Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Target Co. (NYSE:TGT) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,587,717 shares of the retailer’s stock after selling 16,894 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Target were worth $87,626,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in TGT. Cribstone Capital Management LLC raised its position in Target by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares in the last quarter. First National Bank Sioux Falls raised its position in Target by 18.5% in the third quarter. First National Bank Sioux Falls now owns 1,603 shares of the retailer’s stock valued at $110,000 after buying an additional 250 shares in the last quarter. Reilly Financial Advisors LLC raised its position in Target by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock valued at $110,000 after buying an additional 874 shares in the last quarter. Pinnacle Bank purchased a new position in Target during the first quarter valued at approximately $123,000. Finally, Peoples Financial Services CORP. raised its position in Target by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock valued at $125,000 after buying an additional 1,225 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
Shares of Target Co. (TGT) opened at 55.66 on Friday. Target Co. has a 1-year low of $52.72 and a 1-year high of $79.33. The firm’s 50-day moving average is $55.49 and its 200-day moving average is $63.41. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 11.41 and a beta of 0.63.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.30. Target had a return on equity of 25.18% and a net margin of 4.75%. The business had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same period in the prior year, the company earned $1.29 EPS. Target’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Target Co. will post $4.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, May 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.31%. Target’s dividend payout ratio is currently 42.93%.
TGT has been the subject of several recent research reports. Cowen and Company lowered their price target on shares of Target to $64.00 in a research report on Wednesday, March 1st. Instinet lowered their price target on shares of Target to $60.00 in a research report on Wednesday, March 1st. Vetr lowered shares of Target from a “strong-buy” rating to a “buy” rating and set a $72.80 price target for the company. in a research report on Thursday, February 9th. Buckingham Research restated a “buy” rating and set a $71.00 price target on shares of Target in a research report on Wednesday, April 19th. Finally, TheStreet lowered shares of Target from a “b-” rating to a “c+” rating in a research report on Monday, March 27th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $65.49.
In other Target news, insider Don H. Liu acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was acquired at an average cost of $57.00 per share, for a total transaction of $114,000.00. Following the transaction, the insider now directly owns 56,983 shares in the company, valued at $3,248,031. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald R. Knauss acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average price of $54.86 per share, with a total value of $548,600.00. Following the completion of the transaction, the director now owns 16,431 shares in the company, valued at $901,404.66. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
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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