Hutchinson Capital Management CA cut its holdings in Target Co. (NYSE:TGT) by 5.2% during the second quarter, HoldingsChannel reports. The fund owned 7,315 shares of the retailer’s stock after selling 400 shares during the period. Hutchinson Capital Management CA’s holdings in Target were worth $633,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Comerica Securities Inc. boosted its position in shares of Target by 12.9% during the fourth quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock valued at $590,000 after purchasing an additional 1,020 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Target by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after purchasing an additional 381,831 shares in the last quarter. Altman Advisors Inc. boosted its position in shares of Target by 18.7% during the first quarter. Altman Advisors Inc. now owns 30,467 shares of the retailer’s stock valued at $2,445,000 after purchasing an additional 4,794 shares in the last quarter. Brinker Capital Inc. boosted its position in shares of Target by 13.1% during the first quarter. Brinker Capital Inc. now owns 26,239 shares of the retailer’s stock valued at $2,106,000 after purchasing an additional 3,036 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its holdings in Target by 42.9% in the first quarter. Tradewinds Capital Management LLC now owns 749 shares of the retailer’s stock worth $60,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Several equities research analysts have commented on the company. Sanford C. Bernstein reissued a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Deutsche Bank raised Target from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $99.00 in a report on Monday, August 5th. KeyCorp boosted their target price on Target from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. Cowen set a $120.00 target price on Target and gave the stock a “buy” rating in a report on Wednesday. Finally, Goldman Sachs Group assumed coverage on Target in a report on Thursday, July 11th. They issued a “buy” rating and a $102.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $101.92.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. Sell-side analysts predict that Target Co. will post 5.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio is presently 48.98%.
In other news, insider Stephanie A. Lundquist sold 8,367 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total transaction of $736,379.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $89.00, for a total value of $370,507.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,421 shares of company stock worth $2,162,689. Corporate insiders own 0.24% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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