Carret Asset Management LLC raised its stake in Target Co. (NYSE:TGT – Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,107 shares of the retailer’s stock after acquiring an additional 973 shares during the quarter. Target makes up 0.9% of Carret Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Carret Asset Management LLC’s holdings in Target were worth $8,433,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of Target by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares during the period. Victory Capital Management Inc. lifted its position in Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares during the period. Clearbridge Investments LLC boosted its stake in Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after buying an additional 470,647 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Target by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after buying an additional 435,229 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after acquiring an additional 272,521 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Target
Target Stock Performance
Shares of TGT opened at $151.16 on Friday. The firm has a 50-day moving average price of $153.38 and a 200 day moving average price of $151.95. The firm has a market capitalization of $69.93 billion, a PE ratio of 16.97, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86.
Target (NYSE:TGT – Get Free Report) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.
Target Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. Target’s dividend payout ratio (DPR) is 50.28%.
About Target
Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.
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