American National Registered Investment Advisor Inc. held its stake in Target Corporation (NYSE:TGT) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 20,761 shares of the retailer’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in Target Corporation were worth $1,086,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new stake in Target Corporation during the fourth quarter worth $1,421,000. Ancora Advisors LLC acquired a new stake in Target Corporation during the fourth quarter worth $505,000. Focused Wealth Management Inc acquired a new stake in Target Corporation during the fourth quarter worth $166,000. Guggenheim Capital LLC increased its stake in Target Corporation by 10.8% in the fourth quarter. Guggenheim Capital LLC now owns 933,698 shares of the retailer’s stock worth $67,441,000 after buying an additional 90,754 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Target Corporation by 34.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,788 shares of the retailer’s stock worth $5,520,000 after buying an additional 19,473 shares in the last quarter. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corporation (TGT) traded up 0.94% during trading on Monday, hitting $53.73. 12,400,130 shares of the stock traded hands. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The stock has a 50 day moving average of $54.35 and a 200 day moving average of $60.17. The firm has a market cap of $29.64 billion, a price-to-earnings ratio of 11.01 and a beta of 0.60.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts expect that Target Corporation will post $4.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is currently 48.98%.
A number of analysts have recently weighed in on TGT shares. Zacks Investment Research downgraded shares of Target Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, March 20th. TheStreet downgraded shares of Target Corporation from a “b-” rating to a “c+” rating in a research report on Monday, March 27th. Vetr downgraded shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.11 target price on the stock. in a research report on Monday, April 10th. Buckingham Research reaffirmed a “buy” rating and issued a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Finally, Gordon Haskett started coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Target Corporation currently has a consensus rating of “Hold” and an average target price of $62.93.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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