DNB Asset Management AS cut its holdings in Target Co. (NYSE:TGT) by 3.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,477 shares of the retailer’s stock after selling 1,903 shares during the period. DNB Asset Management AS’s holdings in Target were worth $5,511,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of TGT. BlackRock Inc. grew its stake in shares of Target by 5.3% in the second quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock valued at $3,255,697,000 after buying an additional 2,161,982 shares in the last quarter. LSV Asset Management grew its stake in shares of Target by 1.2% in the second quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock valued at $570,620,000 after buying an additional 90,489 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Target by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock valued at $324,768,000 after buying an additional 106,616 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Target by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock valued at $297,546,000 after buying an additional 34,470 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Target by 3.1% in the second quarter. Swiss National Bank now owns 1,708,417 shares of the retailer’s stock valued at $130,045,000 after buying an additional 51,100 shares in the last quarter. Institutional investors own 83.52% of the company’s stock.
Several equities analysts recently weighed in on TGT shares. Loop Capital set a $102.00 target price on shares of Target and gave the company a “hold” rating in a research note on Friday, August 17th. UBS Group raised their target price on shares of Target from $76.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 17th. Guggenheim reissued a “hold” rating on shares of Target in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Tuesday, August 7th. Finally, Deutsche Bank set a $90.00 target price on shares of Target and gave the company a “hold” rating in a research note on Saturday, August 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $87.68.
In other news, insider Janna A. Potts sold 15,172 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 2,100 shares of the business’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
TGT stock opened at $84.61 on Friday. 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 one year low of $54.04 and a one year high of $90.39. The firm has a market cap of $46.43 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.44 and a beta of 0.70.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target Co. will post 5.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.03%. Target’s dividend payout ratio (DPR) 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.
Further Reading: Intrinsic Value and Stock Selection
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