Parkside Financial Bank & Trust grew its holdings in shares of Target Co. (NYSE:TGT) by 14.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,402 shares of the retailer’s stock after purchasing an additional 698 shares during the period. Parkside Financial Bank & Trust’s holdings in Target were worth $578,000 as of its most recent SEC filing.
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Other large investors have also modified their holdings of the company. Carlson Capital Management increased its holdings in Target by 1.0% during the 3rd quarter. Carlson Capital Management now owns 9,985 shares of the retailer’s stock worth $1,067,000 after purchasing an additional 100 shares during the last quarter. Evermay Wealth Management LLC increased its holdings in shares of Target by 3.8% in the 3rd quarter. Evermay Wealth Management LLC now owns 2,724 shares of the retailer’s stock valued at $291,000 after acquiring an additional 100 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Target by 0.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 38,132 shares of the retailer’s stock valued at $3,302,000 after acquiring an additional 115 shares during the last quarter. Weiss Asset Management LP increased its holdings in shares of Target by 4.6% in the 2nd quarter. Weiss Asset Management LP now owns 2,788 shares of the retailer’s stock valued at $241,000 after acquiring an additional 123 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV grew its stake in Target by 2.8% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 4,522 shares of the retailer’s stock worth $392,000 after buying an additional 125 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.
Shares of Target stock traded down $0.44 during trading on Friday, hitting $110.15. The stock had a trading volume of 2,779,112 shares, compared to its average volume of 5,086,021. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.21. The firm has a market cap of $56.23 billion, a P/E ratio of 20.44, a PEG ratio of 2.53 and a beta of 0.54. The business has a fifty day moving average of $109.29 and a two-hundred day moving average of $93.06. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $114.83.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The business had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 earnings per share. As a group, research analysts forecast that Target Co. will post 6.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.40%. Target’s dividend payout ratio (DPR) is 48.98%.
Target announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 19th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the retailer to reacquire up to 9.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently commented on TGT shares. JPMorgan Chase & Co. upped their price objective on Target from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $99.00 in a research report on Monday, August 5th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $130.00 in a research report on Thursday, August 22nd. KeyCorp boosted their price target on Target from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Goldman Sachs Group lowered Target from a “conviction-buy” rating to a “buy” rating and set a $110.00 price target for the company. in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $107.70.
In other news, insider Don H. Liu sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the insider now owns 39,890 shares in the company, valued at $4,387,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cathy R. Smith sold 8,412 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $104.40, for a total value of $878,212.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,478 shares of company stock valued at $8,915,363. Insiders own 0.24% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
Further Reading: What is a stock buyback?
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