Alerus Financial NA trimmed its position in Target Co. (NYSE:TGT) by 5.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 14,452 shares of the retailer’s stock after selling 788 shares during the period. Alerus Financial NA’s holdings in Target were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. LSV Asset Management grew its holdings in shares of Target by 1.2% during the 2nd quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock worth $570,620,000 after purchasing an additional 90,489 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Target by 17.1% during the 1st quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock worth $492,829,000 after purchasing an additional 1,038,937 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Target by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock worth $288,826,000 after purchasing an additional 72,185 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Target by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock worth $297,546,000 after purchasing an additional 34,470 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Target by 7.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,674,126 shares of the retailer’s stock worth $127,434,000 after purchasing an additional 116,378 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TGT stock opened at $83.04 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.90 and a debt-to-equity ratio of 1.18. Target Co. has a twelve month low of $53.90 and a twelve month high of $84.14. The firm has a market cap of $44.10 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). Target had a return on equity of 23.34% and a net margin of 4.09%. The business had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. Target’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts expect that Target Co. will post 5.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be given a dividend of $0.64 per share. This is an increase from Target’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, August 14th. Target’s dividend payout ratio is currently 54.35%.
Several analysts have recently issued reports on TGT shares. Gordon Haskett raised Target from a “hold” rating to an “accumulate” rating in a report on Wednesday, July 25th. Credit Suisse Group set a $86.00 target price on Target and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Tuesday, May 22nd. MKM Partners set a $91.00 target price on Target and gave the stock a “buy” rating in a report on Thursday, May 24th. Finally, ValuEngine raised Target from a “hold” rating to a “buy” rating in a report on Monday, May 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $79.41.
In other Target news, insider Laysha Ward sold 43,926 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $79.33, for a total value of $3,484,649.58. Following the completion of the transaction, the insider now directly owns 90,460 shares in the company, valued at $7,176,191.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Janna A. Potts sold 5,152 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $75.00, for a total value of $386,400.00. Following the completion of the transaction, the insider now owns 22,304 shares of the company’s stock, valued at $1,672,800. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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