FDO Partners LLC bought a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,821 shares of the retailer’s stock, valued at approximately $284,000.
Several other institutional investors have also made changes to their positions in the company. Fiera Capital Corp grew its stake in Target by 0.4% in the second quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock worth $256,000 after purchasing an additional 19 shares in the last quarter. Gamble Jones Investment Counsel lifted its holdings in Target by 0.4% in the second quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock worth $553,000 after acquiring an additional 44 shares during the last quarter. Carlson Capital Management lifted its holdings in Target by 0.9% in the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock worth $421,000 after acquiring an additional 69 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in Target by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,847 shares of the retailer’s stock worth $515,000 after acquiring an additional 74 shares during the last quarter. Finally, WealthTrust Fairport LLC lifted its holdings in Target by 1.6% in the second quarter. WealthTrust Fairport LLC now owns 6,051 shares of the retailer’s stock worth $316,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 87.41% of the company’s stock.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. equities analysts forecast that Target Co. will post 4.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.96%. Target’s dividend payout ratio (DPR) is presently 52.10%.
A number of equities analysts have issued reports on the stock. Moffett Nathanson assumed coverage on shares of Target in a report on Monday. They issued a “neutral” rating on the stock. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a report on Friday. Vetr cut shares of Target from a “strong-buy” rating to a “buy” rating and set a $66.10 target price on the stock. in a report on Wednesday, November 29th. Barclays set a $45.00 target price on shares of Target and gave the stock a “sell” rating in a report on Wednesday, November 15th. Finally, Morgan Stanley cut their target price on shares of Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday, November 16th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.25.
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Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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