Rational Advisors LLC decreased its stake in shares of Target Co. (NYSE:TGT) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,103 shares of the retailer’s stock after selling 1,816 shares during the period. Rational Advisors LLC’s holdings in Target were worth $632,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in TGT. Sei Investments Co. boosted its position in Target by 1.1% in the fourth quarter. Sei Investments Co. now owns 234,835 shares of the retailer’s stock worth $15,323,000 after purchasing an additional 2,667 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Target in the fourth quarter worth $416,000. Itau Unibanco Holding S.A. boosted its position in Target by 1,931.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 7,943 shares of the retailer’s stock worth $518,000 after purchasing an additional 7,552 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in Target by 12.8% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 20,402 shares of the retailer’s stock worth $1,331,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Wealthfront Inc. purchased a new position in Target in the fourth quarter worth $2,527,000. 85.41% of the stock is currently owned by institutional investors.
TGT has been the topic of several research analyst reports. Credit Suisse Group set a $86.00 price objective on Target and gave the stock a “buy” rating in a research report on Monday, May 14th. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Vetr raised Target from a “hold” rating to a “buy” rating and set a $75.42 price objective on the stock in a research report on Tuesday, March 6th. Susquehanna Bancshares set a $95.00 price objective on Target and gave the stock a “buy” rating in a research report on Monday, March 5th. Finally, MKM Partners set a $93.00 price objective on Target and gave the stock a “buy” rating in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $73.58.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Target had a net margin of 4.09% and a return on equity of 23.34%. The company had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. research analysts forecast that Target Co. will post 5.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Target’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, August 14th. Target’s payout ratio is presently 52.65%.
In related news, insider John J. Mulligan sold 118,373 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the sale, the insider now directly owns 195,906 shares in the company, valued at approximately $13,589,999.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $79.33, for a total value of $3,484,649.58. Following the sale, the insider now owns 90,460 shares in the company, valued at $7,176,191.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,186 shares of company stock worth $12,287,710. 0.19% of the stock is currently owned by corporate insiders.
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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