Smithfield Trust Co. Has $303,000 Stake in Target Corp. (TGT)

Smithfield Trust Co. reduced its stake in Target Corp. (NYSE:TGT) by 43.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,331 shares of the retailer’s stock after selling 3,272 shares during the period. Smithfield Trust Co.’s holdings in Target Corp. were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Nova Scotia Trust Co. raised its position in shares of Target Corp. by 2.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 4,225 shares of the retailer’s stock valued at $348,000 after buying an additional 100 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Target Corp. by 4.1% in the first quarter. Lazard Asset Management LLC now owns 56,296 shares of the retailer’s stock valued at $4,631,000 after buying an additional 2,220 shares during the last quarter. Optimum Investment Advisors raised its position in shares of Target Corp. by 10.6% in the first quarter. Optimum Investment Advisors now owns 15,656 shares of the retailer’s stock valued at $1,288,000 after buying an additional 1,500 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Target Corp. by 115.6% in the first quarter. Meeder Asset Management Inc. now owns 38,784 shares of the retailer’s stock valued at $3,191,000 after buying an additional 20,796 shares during the last quarter. Finally, Cypress Wealth Advisors LLC raised its position in shares of Target Corp. by 5.1% in the first quarter. Cypress Wealth Advisors LLC now owns 2,940 shares of the retailer’s stock valued at $242,000 after buying an additional 143 shares during the last quarter. Institutional investors own 86.16% of the company’s stock.

Institutional Ownership by Quarter for Target Corp. (NYSE:TGT)

Shares of Target Corp. (NYSE:TGT) traded up 0.486% during mid-day trading on Tuesday, hitting $67.567. 1,346,444 shares of the stock were exchanged. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14. The company has a 50-day moving average price of $68.91 and a 200-day moving average price of $72.75. The stock has a market cap of $38.84 billion, a price-to-earnings ratio of 12.503 and a beta of 0.68.

Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The business earned $16.20 billion during the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. Equities analysts expect that Target Corp. will post $4.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Target Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG increased their price target on shares of Target Corp. from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, August 15th. MKM Partners reissued a “neutral” rating and set a $78.00 price objective (up from $73.00) on shares of Target Corp. in a research report on Tuesday, August 16th. Edward Jones downgraded shares of Target Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Cowen and Company reissued an “outperform” rating and set a $75.00 price objective (down from $81.00) on shares of Target Corp. in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.49.

About Target Corp.

Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

5 Day Chart for NYSE:TGT

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