Scotia Capital Inc. lifted its stake in Target Co. (NYSE:TGT) by 41.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,211 shares of the retailer’s stock after purchasing an additional 2,701 shares during the quarter. Scotia Capital Inc.’s holdings in Target were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Investment Advisory Services LLC boosted its position in shares of Target by 9.9% in the 4th quarter. Capital Investment Advisory Services LLC now owns 7,675 shares of the retailer’s stock worth $501,000 after purchasing an additional 693 shares in the last quarter. Corient Capital Partners LLC boosted its position in shares of Target by 11.1% in the 4th quarter. Corient Capital Partners LLC now owns 6,994 shares of the retailer’s stock worth $456,000 after purchasing an additional 699 shares in the last quarter. White Pine Capital LLC boosted its position in shares of Target by 2.7% in the 4th quarter. White Pine Capital LLC now owns 27,908 shares of the retailer’s stock worth $1,821,000 after purchasing an additional 725 shares in the last quarter. Haverford Trust Co. boosted its position in shares of Target by 4.0% in the 4th quarter. Haverford Trust Co. now owns 20,290 shares of the retailer’s stock worth $1,324,000 after purchasing an additional 775 shares in the last quarter. Finally, Heritage Trust Co boosted its position in shares of Target by 49.4% in the 4th quarter. Heritage Trust Co now owns 2,645 shares of the retailer’s stock worth $173,000 after purchasing an additional 874 shares in the last quarter. 87.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Vetr raised Target from a “hold” rating to a “buy” rating and set a $75.42 price target on the stock in a research report on Tuesday, March 6th. Susquehanna Bancshares set a $95.00 price target on Target and gave the stock a “buy” rating in a research report on Monday, March 5th. Telsey Advisory Group dropped their price target on Target from $83.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 7th. Morgan Stanley set a $64.00 price target on Target and gave the stock a “sell” rating in a research report on Wednesday, March 7th. Finally, Credit Suisse Group initiated coverage on shares of Target in a report on Monday, March 5th. They issued a “buy” rating and a $86.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Target currently has an average rating of “Hold” and a consensus target price of $73.97.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). The company had revenue of $22.77 billion during the quarter, compared to analysts’ expectations of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. research analysts anticipate that Target Co. will post 5.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st were paid a $0.62 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.52%. Target’s dividend payout ratio (DPR) is 46.36%.
In other news, insider Robert M. Harrison sold 8,557 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now directly owns 13,288 shares in the company, valued at approximately $1,019,721.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. Insiders sold a total of 16,262 shares of company stock valued at $1,185,484 over the last 90 days. 0.20% of the stock is currently owned by company insiders.
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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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