NorthRock Partners LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,717 shares of the retailer’s stock after purchasing an additional 1,886 shares during the period. Target makes up about 2.5% of NorthRock Partners LLC’s holdings, making the stock its 11th biggest position. NorthRock Partners LLC’s holdings in Target were worth $7,439,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in Target by 3.5% in the 2nd quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock valued at $1,464,000 after buying an additional 647 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Target by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock valued at $1,184,000 after buying an additional 671 shares in the last quarter. Uncommon Cents Investing LLC lifted its stake in Target by 2.2% in the 2nd quarter. Uncommon Cents Investing LLC now owns 31,623 shares of the retailer’s stock valued at $2,407,000 after buying an additional 685 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Target by 4.6% in the 1st quarter. Wetherby Asset Management Inc. now owns 16,312 shares of the retailer’s stock valued at $1,133,000 after buying an additional 713 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Target by 20.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,307 shares of the retailer’s stock valued at $336,000 after buying an additional 726 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.
In related news, insider Laysha Ward sold 43,926 shares of the stock in a transaction on 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 sale, the insider now directly owns 90,460 shares in the company, valued at approximately $7,176,191.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.
TGT has been the topic of a number of recent analyst reports. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. Credit Suisse Group set a $86.00 price target on Target and gave the stock a “buy” rating in a research note on Monday, May 14th. MKM Partners set a $93.00 price target on Target and gave the stock a “buy” rating in a research note on Wednesday, May 16th. Wolfe Research raised Target from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 16th. Finally, Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $87.67.
TGT stock opened at $88.60 on Thursday. The firm has a market cap of $46.06 billion, a PE ratio of 18.81, a PEG ratio of 2.42 and a beta of 0.69. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. Target Co. has a 52 week low of $54.04 and a 52 week high of $89.42.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. The business had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. analysts forecast that Target Co. will post 5.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Target’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, August 14th. Target’s dividend payout ratio is presently 54.35%.
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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