American International Group Inc. cut its position in Target Co. (NYSE:TGT) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,323 shares of the retailer’s stock after selling 3,883 shares during the quarter. American International Group Inc.’s holdings in Target were worth $14,716,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Lee Financial Co grew its position in Target by 168.7% in the 1st quarter. Lee Financial Co now owns 1,435 shares of the retailer’s stock worth $100,000 after purchasing an additional 901 shares during the last quarter. Signaturefd LLC acquired a new stake in Target in the 1st quarter worth $112,000. Duncker Streett & Co. Inc. grew its position in Target by 1,435.0% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock worth $117,000 after purchasing an additional 1,435 shares during the last quarter. Stelac Advisory Services LLC acquired a new stake in Target in the 1st quarter worth $128,000. Finally, Squar Milner Financial Services LLC acquired a new stake in Target in the 2nd quarter worth $129,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
In related news, insider Janna A. Potts sold 5,152 shares of Target stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $75.00, for a total transaction of $386,400.00. Following the completion of the transaction, the insider now directly owns 22,304 shares of the company’s stock, valued at approximately $1,672,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laysha Ward sold 43,926 shares of Target stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the transaction, the insider now directly owns 90,460 shares of the company’s stock, valued at $7,176,191.80. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Several research firms have issued reports on TGT. UBS Group raised their price target on shares of Target from $76.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, August 7th. Loop Capital set a $102.00 price target on shares of Target and gave the stock a “hold” rating in a research report on Friday. Gordon Haskett upgraded shares of Target from a “hold” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Finally, Susquehanna Bancshares restated a “positive” rating and issued a $84.00 price target on shares of Target in a research report on Thursday, June 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Target presently has a consensus rating of “Hold” and an average target price of $79.41.
Shares of Target stock opened at $83.32 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.18 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 stock has a market cap of $44.10 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.
Target (NYSE:TGT) last issued its earnings results 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 net margin of 4.09% and a return on equity of 23.34%. The business had revenue of $16.78 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the firm posted $1.21 earnings per share. Target’s revenue was up 3.4% on a year-over-year basis. research analysts forecast that Target Co. will post 5.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.64 per share. This is a positive change from Target’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, August 14th. Target’s payout ratio is 54.35%.
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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