City Holding Co. lifted its stake in shares of Target Co. (NYSE: TGT – Get Rating) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,200 shares of the retailer’s stock after buying an additional 883 shares during the period. City Holding Co.’s holdings in Target were worth $ 3,862,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in Target by 0.5% during the fourth quarter. State Street Corp now owns 35,922,818 shares of the retailer’s stock valued at $ 8,313,977,000 after purchasing an additional 191,484 shares during the period. Capital World Investors lifted its position in Target by 22.9% during the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock valued at $ 2,069,535,000 after purchasing an additional 1,666,948 shares during the period. Geode Capital Management LLC lifted its position in Target by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 8,187,017 shares of the retailer’s stock valued at $ 1,890,357,000 after purchasing an additional 157,019 shares during the period. Norges Bank acquired a new position in Target during the fourth quarter valued at $ 1,094,330,000. Finally, UBS Asset Management Americas Inc. lifted its position in Target by 1.4% during the third quarter. UBS Asset Management Americas Inc. now owns 3,545,913 shares of the retailer’s stock valued at $ 811,199,000 after purchasing an additional 47,826 shares during the period. Institutional investors and hedge funds own 81.83% of the company stock.
Shares of NYSE TGT opened at $ 150.42 on Friday. Target Co. has a 12-month low of $ 138.58 and a 12-month high of $ 268.98. The stock has a market cap of $ 69.75 billion, a PE ratio of 12.47, a P / E / G ratio of 1.69 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $ 187.34 and a 200 day moving average of $ 208.53.
Target (NYSE: TGT – Get Rating) last posted its earnings results on Wednesday, May 18th. The retailer reported $ 2.19 earnings per share for the quarter, missing the consensus estimate of $ 3.07 by ($ 0.88). The firm had revenue of $ 24.83 billion during the quarter, compared to analyst estimates of $ 24.48 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $ 3.69 earnings per share. On average, sell-side analysts forecast that Target Co. will post 8.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be issued a $ 1.08 dividend. This represents a $ 4.32 annualized dividend and a yield of 2.87%. This is a positive change from Target’s previous quarterly dividend of $ 0.90. The ex-dividend date is Tuesday, August 16th. Target’s payout ratio is presently 29.85%.
In other news, insider Cara A. Sylvester sold 2,030 shares of the company stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $ 250.00, for a total value of $ 507,500.00. Following the transaction, the insider now directly owns 7,891 shares in the company, valued at approximately $ 1,972,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Don H. Liu sold 18,674 shares of the company stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $ 219.00, for a total transaction of $ 4,089,606.00. Following the completion of the transaction, the insider now owns 60,259 shares in the company, valued at $ 13,196,721. The disclosure for this sale can be found here. Insiders sold a total of 79,694 shares of company stock worth $ 14,055,746 over the last quarter. 0.29% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on TGT shares. Truist Financial decreased their target price on shares of Target from $ 171.00 to $ 150.00 and set a “hold” rating for the company in a research report on Wednesday, June 8th. Citigroup cut their price objective on shares of Target from $ 188.00 to $ 184.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Credit Suisse Group cut their price objective on shares of Target from $ 286.00 to $ 180.00 and set an “outperform” rating for the company in a report on Monday, May 23rd. Barclays cut their price objective on shares of Target from $ 200.00 to $ 175.00 and set an “overweight” rating for the company in a report on Wednesday, June 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Target from $ 302.00 to $ 188.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $ 193.04.
About Target: (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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