State of Alaska Department of Revenue boosted its stake in shares of Target Corporation (NYSE:TGT) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,201 shares of the retailer’s stock after buying an additional 1,910 shares during the period. State of Alaska Department of Revenue’s holdings in Target Corporation were worth $3,043,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TGT. Welch & Forbes LLC increased its stake in shares of Target Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock worth $450,000 after buying an additional 24 shares in the last quarter. Compton Capital Management Inc. RI increased its stake in shares of Target Corporation by 0.4% in the first quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock worth $487,000 after buying an additional 32 shares in the last quarter. TRUE Private Wealth Advisors increased its stake in shares of Target Corporation by 0.9% in the first quarter. TRUE Private Wealth Advisors now owns 4,488 shares of the retailer’s stock worth $238,000 after buying an additional 38 shares in the last quarter. WealthTrust Fairport LLC boosted its position in shares of Target Corporation by 0.9% in the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock worth $329,000 after buying an additional 55 shares during the last quarter. Finally, Carlson Capital Management boosted its position in shares of Target Corporation by 0.9% in the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock worth $421,000 after buying an additional 69 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE TGT) traded up 1.48% during midday trading on Friday, reaching $55.01. 6,979,927 shares of the company’s stock traded hands. The company has a 50 day moving average of $55.11 and a 200 day moving average of $55.88. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The firm has a market cap of $30.05 billion, a PE ratio of 11.12 and a beta of 0.61. Target Corporation also saw unusually large options trading activity on Thursday. Investors purchased 27,938 put options on the company. This represents an increase of approximately 146% compared to the average volume of 11,363 put options.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, equities analysts predict that Target Corporation will post $4.50 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.51%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is currently 50.00%.
TGT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, June 6th. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price on the stock in a report on Wednesday, May 10th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Finally, MKM Partners boosted their price objective on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.64.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.
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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