King Luther Capital Management Corp cut its position in shares of Target Co. (NYSE:TGT) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,668 shares of the retailer’s stock after selling 932 shares during the period. King Luther Capital Management Corp’s holdings in Target were worth $5,075,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in TGT. Highstreet Asset Management Inc. lifted its holdings in Target by 2.6% during the 2nd quarter. Highstreet Asset Management Inc. now owns 38,835 shares of the retailer’s stock valued at $2,956,000 after buying an additional 980 shares in the last quarter. Uncommon Cents Investing LLC lifted its holdings in Target by 2.2% during 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. D L Carlson Investment Group Inc. lifted its holdings in Target by 21.2% during the 2nd quarter. D L Carlson Investment Group Inc. now owns 61,919 shares of the retailer’s stock valued at $4,713,000 after buying an additional 10,835 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new stake in Target during the 2nd quarter valued at about $219,000. Finally, Rockland Trust Co. bought a new stake in Target during the 2nd quarter valued at about $1,219,000. 82.50% of the stock is owned by hedge funds and other institutional investors.
NYSE:TGT opened at $88.74 on Friday. Target Co. has a one year low of $54.04 and a one year high of $90.19. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. The stock has a market capitalization of $46.78 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.40 by $0.07. Target had a net margin of 4.19% and a return on equity of 24.29%. The business had revenue of $17.78 billion during the quarter, compared to analyst estimates of $17.33 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. research analysts forecast that Target Co. will post 5.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, August 14th. This is a positive change from Target’s previous quarterly dividend of $0.62. Target’s payout ratio is 54.35%.
A number of equities research analysts recently weighed in on the stock. MKM Partners set a $91.00 price objective on shares of Target and gave the company a “buy” rating in a report on Friday, June 29th. Loop Capital set a $102.00 price objective on shares of Target and gave the company a “hold” rating in a report on Friday, August 17th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the company a “buy” rating in a report on Monday, May 14th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Target from $85.00 to $93.00 and gave the company a “hold” rating in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $87.67.
In related news, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 90,460 shares in the company, valued at approximately $7,176,191.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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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