Wellington Management Group LLP decreased its stake in shares of Target Corporation (NYSE:TGT) by 52.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 30,837 shares of the retailer’s stock after selling 34,553 shares during the period. Wellington Management Group LLP’s holdings in Target Corporation were worth $1,702,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN boosted its position in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares during the period. ING Groep NV boosted its position in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares during the period. Honeywell International Inc. boosted its position in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock valued at $36,707,000 after buying an additional 205,700 shares during the period. Cascade Investment Advisors Inc. boosted its position in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock valued at $1,349,000 after buying an additional 4,685 shares during the period. Finally, Prospera Financial Services Inc boosted its position in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares during the period. Institutional investors and hedge funds own 83.21% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) opened at 54.58 on Friday. The company has a market cap of $30.11 billion, a P/E ratio of 11.18 and a beta of 0.60. The stock’s 50 day moving average price is $53.27 and its 200-day moving average price is $57.84. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.30. The business had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. Equities research analysts expect that Target Corporation will post $4.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
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TGT has been the topic of several recent analyst reports. BidaskClub cut Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Gordon Haskett initiated coverage on Target Corporation in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective on the stock. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective on shares of Target Corporation in a research note on Tuesday, June 20th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.94.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.
Target Corporation Company Profile
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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