Kore Private Wealth LLC increased its holdings in shares of Target Co. (NYSE:TGT) by 10.2% during the second quarter, Holdings Channel.com reports. The fund owned 2,059 shares of the retailer’s stock after purchasing an additional 191 shares during the quarter. Kore Private Wealth LLC’s holdings in Target were worth $498,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. HNP Capital LLC boosted its stake in shares of Target by 58.6% in the 1st quarter. HNP Capital LLC now owns 9,679 shares of the retailer’s stock valued at $1,917,000 after purchasing an additional 3,575 shares in the last quarter. WINTON GROUP Ltd increased its stake in Target by 6.0% during the 2nd quarter. WINTON GROUP Ltd now owns 11,640 shares of the retailer’s stock valued at $2,814,000 after purchasing an additional 661 shares in the last quarter. Moors & Cabot Inc. increased its stake in Target by 4.6% during the 1st quarter. Moors & Cabot Inc. now owns 11,837 shares of the retailer’s stock valued at $2,351,000 after purchasing an additional 524 shares in the last quarter. Intersect Capital LLC grew its stake in shares of Target by 13.6% in the 2nd quarter. Intersect Capital LLC now owns 8,401 shares of the retailer’s stock worth $2,031,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Target by 0.3% in the 1st quarter. Brown Advisory Inc. now owns 189,530 shares of the retailer’s stock worth $37,539,000 after buying an additional 592 shares during the last quarter. 76.73% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Brian C. Cornell sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total transaction of $6,149,500.00. Following the completion of the transaction, the insider now directly owns 195,271 shares in the company, valued at $48,032,760.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Don H. Liu sold 13,977 shares of the firm’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $261.20, for a total value of $3,650,792.40. The disclosure for this sale can be found here. Insiders have sold 136,744 shares of company stock valued at $34,106,184 in the last three months. Insiders own 0.29% of the company’s stock.
Shares of TGT stock opened at $236.75 on Thursday. The stock has a fifty day moving average of $244.78 and a 200 day moving average of $233.57. Target Co. has a 52 week low of $150.80 and a 52 week high of $267.06. The firm has a market capitalization of $115.54 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.36 and a beta of 0.98. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.
Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.15. The company had revenue of $24.83 billion during the quarter, compared to analyst estimates of $25.03 billion. Target had a return on equity of 44.68% and a net margin of 6.29%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.38 earnings per share. Equities research analysts anticipate that Target Co. will post 12.86 earnings per share for the current year.
Target announced that its board has approved a stock repurchase program on Wednesday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 12.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, November 16th. Target’s dividend payout ratio is currently 38.22%.
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
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