CSat Investment Advisory L.P. purchased a new stake in shares of Target Co. (NYSE:TGT) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,502 shares of the retailer’s stock, valued at approximately $114,000.
Several other hedge funds have also recently made changes to their positions in the company. Trust Co. of Vermont boosted its stake in shares of Target by 3.5% during the second quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock valued at $1,464,000 after purchasing an additional 647 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Target by 4.5% during the second quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock valued at $1,184,000 after purchasing an additional 671 shares in the last quarter. Uncommon Cents Investing LLC boosted its stake in shares of Target by 2.2% during the second quarter. Uncommon Cents Investing LLC now owns 31,623 shares of the retailer’s stock valued at $2,407,000 after purchasing an additional 685 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Target by 4.6% during the first quarter. Wetherby Asset Management Inc. now owns 16,312 shares of the retailer’s stock valued at $1,133,000 after purchasing an additional 713 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in shares of Target by 20.3% in the first quarter. HighPoint Advisor Group LLC now owns 4,307 shares of the retailer’s stock worth $336,000 after acquiring an additional 726 shares during the period. 82.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on TGT. Bank of America set a $90.00 price objective on Target and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Citigroup lifted their price objective on Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, August 27th. Credit Suisse Group set a $86.00 price objective on Target and gave the stock a “hold” rating in a research note on Saturday, August 25th. Deutsche Bank set a $90.00 price objective on Target and gave the stock a “hold” rating in a research note on Saturday, August 25th. Finally, Wolfe Research lowered Target from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Target presently has an average rating of “Hold” and an average price target of $87.67.
Shares of TGT stock opened at $88.88 on Friday. The company has a market capitalization of $46.06 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09. Target Co. has a fifty-two week low of $54.04 and a fifty-two week high of $90.19.
Target (NYSE:TGT) last issued its earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. research analysts anticipate that Target Co. will post 5.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a $0.64 dividend. This is an increase from Target’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, August 14th. Target’s payout ratio is presently 54.35%.
In other Target news, insider Laysha Ward sold 43,926 shares of Target stock in a transaction that occurred 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 $7,176,191.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.
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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