Axa cut its position in Target Co. (NYSE:TGT) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,778 shares of the retailer’s stock after selling 20,762 shares during the quarter. Axa’s holdings in Target were worth $9,577,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of Target by 9.4% in the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after buying an additional 916,178 shares during the period. Geode Capital Management LLC raised its stake in shares of Target by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock valued at $401,296,000 after buying an additional 109,029 shares during the period. American Century Companies Inc. raised its stake in shares of Target by 15.7% in the fourth quarter. American Century Companies Inc. now owns 6,059,271 shares of the retailer’s stock valued at $395,367,000 after buying an additional 821,165 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Target by 16.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,914,194 shares of the retailer’s stock valued at $289,987,000 after buying an additional 687,900 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Target by 3.5% in the third quarter. Legal & General Group Plc now owns 3,594,505 shares of the retailer’s stock valued at $212,117,000 after buying an additional 120,278 shares during the period. Hedge funds and other institutional investors own 87.02% of the company’s stock.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is owned by company insiders.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.02). Target had a return on equity of 23.04% and a net margin of 4.08%. The business had revenue of $22.77 billion for the quarter, compared to analysts’ expectations of $22.56 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Target’s quarterly revenue was up 10.0% compared to the same quarter last year. equities research analysts predict that Target Co. will post 5.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Wednesday, February 21st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.51%. The ex-dividend date was Tuesday, February 20th. Target’s payout ratio is 52.99%.
Several brokerages have issued reports on TGT. Zacks Investment Research upgraded Target from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a research note on Saturday, January 20th. Vetr lowered Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research note on Tuesday, February 27th. Citigroup reiterated a “neutral” rating and set a $80.00 price objective (down from $86.00) on shares of Target in a research note on Friday, February 16th. Credit Suisse Group assumed coverage on Target in a research note on Monday, February 26th. They set an “outperform” rating and a $86.00 price objective on the stock. Finally, Susquehanna Bancshares set a $95.00 price objective on Target and gave the company a “buy” rating in a research note on Monday, March 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.97.
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Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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