Rafferty Asset Management LLC Takes Position in Target Corporation (TGT)
Rafferty Asset Management LLC acquired a new stake in Target Corporation (NYSE:TGT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 109,404 shares of the retailer’s stock, valued at approximately $5,721,000.
A number of other institutional investors also recently added to or reduced their stakes in TGT. Boston Private Wealth LLC increased its position in shares of Target Corporation by 4.5% during the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after acquiring an additional 2,285 shares during the period. Conning Inc. raised its stake in shares of Target Corporation by 2.1% during the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after acquiring an additional 10,966 shares in the last quarter. Boston Partners bought a new stake in shares of Target Corporation during the first quarter valued at approximately $392,000. Patten & Patten Inc. TN bought a new stake in shares of Target Corporation during the second quarter valued at approximately $234,000. Finally, Pitcairn Co. raised its stake in shares of Target Corporation by 92.7% during the second quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock valued at $1,226,000 after acquiring an additional 11,278 shares in the last quarter. 83.22% of the stock is owned by institutional investors.
Target Corporation (NYSE:TGT) opened at 58.58 on Wednesday. The firm has a market capitalization of $32.00 billion, a P/E ratio of 11.84 and a beta of 0.62. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The company has a 50 day moving average price of $57.34 and a 200 day moving average price of $55.28. Target Corporation also was the target of some unusual options trading on Monday. Stock traders bought 10,752 put options on the company. This represents an increase of approximately 126% compared to the average volume of 4,756 put options.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. On average, equities analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
A number of brokerages recently issued reports on TGT. BMO Capital Markets reiterated a “market weight” rating on shares of Target Corporation in a report on Thursday, September 14th. TheStreet upgraded Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price objective on the stock. in a report on Monday, August 7th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Finally, MKM Partners lifted their target price on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.64.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.
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Target Corporation Company Profile
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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