Belpointe Asset Management LLC purchased a new stake in Target Co. (NYSE:TGT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,775 shares of the retailer’s stock, valued at approximately $577,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Private Asset Management Inc. acquired a new stake in shares of Target in the second quarter valued at approximately $381,000. Robinson Value Management Ltd. raised its position in Target by 8.3% during the second quarter. Robinson Value Management Ltd. now owns 34,162 shares of the retailer’s stock valued at $1,786,000 after purchasing an additional 2,621 shares in the last quarter. Curbstone Financial Management Corp raised its position in Target by 4.3% during the second quarter. Curbstone Financial Management Corp now owns 7,288 shares of the retailer’s stock valued at $381,000 after purchasing an additional 300 shares in the last quarter. Trust Co raised its position in Target by 3.7% during the first quarter. Trust Co now owns 28,603 shares of the retailer’s stock valued at $1,579,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Beacon Financial Group raised its position in Target by 1.9% during the second quarter. Beacon Financial Group now owns 9,519 shares of the retailer’s stock valued at $496,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.
Several brokerages have commented on TGT. Stifel Nicolaus restated a “hold” rating and set a $60.00 price objective (up from $58.00) on shares of Target in a research report on Friday, August 18th. BMO Capital Markets restated a “market perform” rating and set a $67.00 price objective (up from $62.00) on shares of Target in a research report on Friday, August 18th. MKM Partners set a $77.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein set a $65.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday. Finally, Vetr downgraded shares of Target from a “buy” rating to a “hold” rating and set a $57.89 price objective for the company. in a research report on Thursday, August 17th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.42.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. Target’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. equities research analysts anticipate that Target Co. will post 4.54 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Wednesday, November 15th were issued a $0.62 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.00%. Target’s payout ratio is 51.88%.
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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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