Regal Investment Advisors LLC raised its holdings in Target Co. (NYSE:TGT) by 92.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,976 shares of the retailer’s stock after acquiring an additional 6,241 shares during the period. Regal Investment Advisors LLC’s holdings in Target were worth $1,145,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of Target during the third quarter valued at about $104,000. Sun Life Financial INC boosted its stake in shares of Target by 739.5% during the second quarter. Sun Life Financial INC now owns 1,444 shares of the retailer’s stock valued at $110,000 after purchasing an additional 1,272 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Target during the second quarter valued at about $114,000. Duncker Streett & Co. Inc. boosted its stake in shares of Target by 1,435.0% during the second quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock valued at $117,000 after purchasing an additional 1,435 shares in the last quarter. Finally, Squar Milner Financial Services LLC acquired a new stake in shares of Target during the second quarter valued at about $129,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.
A number of analysts have recently commented on the company. Cowen raised Target from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Wednesday. Stifel Nicolaus lifted their price target on Target from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Thursday, August 23rd. UBS Group lifted their price target on Target from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, August 23rd. Wells Fargo & Co lifted their price target on Target from $72.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, August 23rd. Finally, BMO Capital Markets assumed coverage on Target in a research note on Monday, September 17th. They set a “market perform” rating and a $88.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Target has an average rating of “Hold” and a consensus price target of $88.74.
Target stock opened at $86.94 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $45.67 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.40 and a beta of 0.73. Target Co. has a one year low of $54.04 and a one year high of $90.39.
Target (NYSE:TGT) last posted 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. The company had revenue of $17.78 billion for the quarter, compared to analyst estimates of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Equities analysts predict that Target Co. will post 5.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio is currently 54.35%.
In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Janna A. Potts sold 15,172 shares of Target stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
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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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