Alphastar Capital Management LLC lessened its stake in Target Co. (NYSE:TGT – Get Rating) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,152 shares of the retailer’s stock after selling 1,662 shares during the period. Alphastar Capital Management LLC’s holdings in Target were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of TGT. Allspring Global Investments Holdings LLC acquired a new position in Target in the 4th quarter valued at about $162,042,000. BlackRock Inc. increased its position in Target by 1.6% during the 3rd quarter. BlackRock Inc. now owns 41,153,523 shares of the retailer’s stock worth $9,414,691,000 after purchasing an additional 637,721 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Target by 34.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,101,878 shares of the retailer’s stock worth $480,847,000 after purchasing an additional 536,364 shares during the period. Capital World Investors increased its position in Target by 7.2% during the 3rd quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock worth $1,664,313,000 after purchasing an additional 485,927 shares during the period. Finally, Deutsche Bank AG increased its position in Target by 25.2% during the 3rd quarter. Deutsche Bank AG now owns 1,797,901 shares of the retailer’s stock worth $411,304,000 after purchasing an additional 362,379 shares during the period. Hedge funds and other institutional investors own 78.08% of the company’s stock.
Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Target from $278.00 to $294.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 2nd. Morgan Stanley dropped their target price on Target from $260.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 18th. Truist Financial dropped their target price on Target from $270.00 to $261.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. StockNews.com cut Target from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 30th. Finally, JPMorgan Chase & Co. upped their price target on Target from $262.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Target currently has an average rating of “Buy” and an average target price of $277.23.
Target (NYSE:TGT – Get Rating) last posted its earnings results on Tuesday, March 1st. The retailer reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.33. Target had a return on equity of 47.35% and a net margin of 6.55%. The firm had revenue of $31 billion for the quarter, compared to analyst estimates of $31.40 billion. During the same quarter in the prior year, the company earned $2.67 EPS. Target’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 14.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 18th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $3.60 annualized dividend and a yield of 1.47%. Target’s dividend payout ratio (DPR) is presently 25.59%.
In related news, CAO Robert M. Harrison sold 2,080 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $217.87, for a total transaction of $453,169.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katie M. Boylan sold 3,617 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $223.71, for a total value of $809,159.07. The disclosure for this sale can be found here. Insiders have sold 88,833 shares of company stock worth $19,422,753 over the last quarter. 0.29% of the stock is currently owned by company insiders.
About Target (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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