United Capital Financial Advisers LLC cut its stake in shares of Target Co. (NYSE:TGT) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,644 shares of the retailer’s stock after selling 1,389 shares during the period. United Capital Financial Advisers LLC’s holdings in Target were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. LSV Asset Management raised its position in Target by 9.0% during the first quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock valued at $514,187,000 after purchasing an additional 610,674 shares during the period. American Century Companies Inc. raised its holdings in shares of Target by 17.1% in the first quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock worth $492,829,000 after buying an additional 1,038,937 shares during the period. Geode Capital Management LLC raised its holdings in shares of Target by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock worth $401,296,000 after buying an additional 109,029 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Target by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock worth $288,826,000 after buying an additional 72,185 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Target by 13.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,874,432 shares of the retailer’s stock worth $269,002,000 after buying an additional 452,349 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.
Shares of Target opened at $75.39 on Thursday, Marketbeat.com reports. Target Co. has a 52-week low of $50.04 and a 52-week high of $79.59. The company has a market capitalization of $41.12 billion, a P/E ratio of 16.01, a PEG ratio of 2.44 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.18 and a debt-to-equity ratio of 1.18.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, August 14th. This is a boost from Target’s previous quarterly dividend of $0.62. Target’s dividend payout ratio (DPR) is 52.65%.
Several brokerages have recently weighed in on TGT. Susquehanna Bancshares reiterated a “positive” rating and issued a $84.00 price target on shares of Target in a report on Thursday, June 7th. Credit Suisse Group set a $86.00 price target on Target and gave the stock a “buy” rating in a report on Monday, June 4th. MKM Partners set a $91.00 price target on Target and gave the stock a “buy” rating in a report on Tuesday, June 5th. ValuEngine downgraded Target from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating in a report on Friday, May 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.47.
In other Target news, insider John J. Mulligan sold 118,373 shares of the 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 owns 195,906 shares of the company’s stock, valued at approximately $13,589,999.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Don H. Liu sold 2,735 shares of the stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total value of $205,125.00. Following the sale, the insider now directly owns 62,210 shares in the company, valued at approximately $4,665,750. The disclosure for this sale can be found here. Insiders have sold a total of 170,186 shares of company stock worth $12,287,710 in the last ninety days. Insiders own 0.19% of the company’s stock.
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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