Trust Co. of Vermont lessened its holdings in Target Co. (NYSE:TGT) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,050 shares of the retailer’s stock after selling 170 shares during the period. Trust Co. of Vermont’s holdings in Target were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Nordea Investment Management AB raised its stake in Target by 59.7% in the 1st quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock valued at $232,253,000 after acquiring an additional 1,081,856 shares during the period. Argent Capital Management LLC raised its stake in Target by 162.2% in the 1st quarter. Argent Capital Management LLC now owns 1,163,242 shares of the retailer’s stock valued at $93,362,000 after acquiring an additional 719,655 shares during the period. American Century Companies Inc. raised its stake in Target by 18.8% in the 1st quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock valued at $255,071,000 after acquiring an additional 502,098 shares during the period. Miller Howard Investments Inc. NY raised its stake in Target by 59.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,196,107 shares of the retailer’s stock valued at $96,000,000 after acquiring an additional 447,992 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in Target in the 1st quarter valued at $35,846,000. Institutional investors and hedge funds own 83.15% of the company’s stock.
A number of equities research analysts recently weighed in on TGT shares. Telsey Advisory Group restated an “outperform” rating and issued a $92.00 price target (up previously from $88.00) on shares of Target in a research note on Thursday, April 18th. JPMorgan Chase & Co. upgraded Target from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $81.00 to $100.00 in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Morgan Stanley upgraded Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price objective on the stock in a research report on Monday, May 20th. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a research report on Friday, May 3rd. Finally, UBS Group increased their price objective on Target from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $90.52.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. Target’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. Analysts expect that Target Co. will post 5.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s dividend payout ratio is 47.50%.
In related news, insider Janna A. Potts sold 8,759 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the sale, the insider now directly owns 27,720 shares of the company’s stock, valued at $2,189,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Edward Mcnamara sold 11,891 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,180 shares of company stock worth $2,854,650. 0.24% of the stock is currently owned by insiders.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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