IHT Wealth Management LLC purchased a new stake in Target Co. (NYSE:TGT) during the 2nd quarter, Holdings Channel reports. The firm purchased 3,145 shares of the retailer’s stock, valued at approximately $272,000.
Several other large investors have also recently made changes to their positions in the business. Comerica Securities Inc. grew its stake in shares of Target by 12.9% in the fourth quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock worth $590,000 after purchasing an additional 1,020 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Target by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after acquiring an additional 381,831 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Target by 6.2% in the first quarter. Victory Capital Management Inc. now owns 176,863 shares of the retailer’s stock valued at $14,195,000 after acquiring an additional 10,290 shares in the last quarter. Goelzer Investment Management Inc. increased its stake in shares of Target by 1.9% during the first quarter. Goelzer Investment Management Inc. now owns 85,216 shares of the retailer’s stock valued at $6,839,000 after acquiring an additional 1,617 shares during the period. Finally, Cambridge Financial Group Inc. increased its stake in shares of Target by 2.5% during the first quarter. Cambridge Financial Group Inc. now owns 81,216 shares of the retailer’s stock valued at $6,518,000 after acquiring an additional 1,952 shares during the period. Institutional investors own 82.09% of the company’s stock.
In other Target news, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $89.00, for a total transaction of $370,507.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Edward Mcnamara sold 11,891 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,532 shares of company stock valued at $10,121,671. 0.24% of the stock is currently owned by company insiders.
NYSE TGT opened at $108.83 on Wednesday. The stock has a market capitalization of $56.13 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.53 and a beta of 0.52. Target Co. has a 1 year low of $60.15 and a 1 year high of $110.94. The business’s fifty day moving average is $93.78 and its two-hundred day moving average is $84.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The company had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 EPS. On average, research analysts forecast that Target Co. will post 6.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.43%. Target’s payout ratio is 48.98%.
A number of equities research analysts have weighed in on the company. Robert W. Baird set a $115.00 target price on Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Goldman Sachs Group started coverage on Target in a research note on Thursday, July 11th. They set a “buy” rating and a $102.00 price target for the company. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $130.00 in a research report on Thursday, August 22nd. Bank of America boosted their price objective on Target from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, UBS Group boosted their price objective on Target from $86.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $102.37.
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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