WealthTrust Fairport LLC Lifted Holding in Target Co. (TGT)

WealthTrust Fairport LLC Lifted Holding in Target Co. (TGT)

WealthTrust Fairport LLC boosted its position in Target Co. (NYSE:TGT) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,958 shares of the retailer’s stock after buying an additional 55 shares during the period. WealthTrust Fairport LLC’s holdings in Target were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Dodge & Cox purchased a new position in Target during the fourth quarter worth about $788,237,000. Norges Bank purchased a new position in Target during the fourth quarter worth about $460,220,000. Renaissance Technologies LLC purchased a new position in Target during the fourth quarter worth about $129,277,000. Equity Investment Corp Acquisition Inc purchased a new position in Target during the fourth quarter worth about $128,071,000. Finally, Two Sigma Advisers LP increased its position in Target by 652.1% in the third quarter. Two Sigma Advisers LP now owns 2,012,067 shares of the retailer’s stock worth $138,189,000 after buying an additional 1,744,553 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.

Target Co. (NYSE:TGT) opened at 55.52 on Friday. The firm’s 50-day moving average price is $55.55 and its 200 day moving average price is $63.29. The stock has a market cap of $30.63 billion, a P/E ratio of 11.38 and a beta of 0.63. Target Co. has a 52-week low of $52.72 and a 52-week high of $79.33.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target had a return on equity of 25.18% and a net margin of 4.75%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. Equities analysts predict that Target Co. will post $4.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a yield of 4.32%. Target’s dividend payout ratio (DPR) is 42.93%.

A number of research analysts recently issued reports on TGT shares. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $60.11 price target on the stock. in a research note on Monday, April 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price objective (up from $56.00) on shares of Target in a research report on Friday, May 19th. Zacks Investment Research cut Target from a “hold” rating to a “strong sell” rating in a research report on Monday, March 20th. Buckingham Research reaffirmed a “buy” rating and set a $71.00 price objective on shares of Target in a research report on Wednesday, April 19th. Finally, Gordon Haskett began coverage on Target in a research report on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective for the company. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Target currently has a consensus rating of “Hold” and a consensus target price of $65.49.

In related news, Director Donald R. Knauss acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the transaction, the director now owns 16,431 shares of the company’s stock, valued at $901,404.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Don H. Liu acquired 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were bought at an average price of $57.00 per share, with a total value of $114,000.00. Following the transaction, the insider now directly owns 56,983 shares in the company, valued at approximately $3,248,031. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

About Target

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TGT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Related posts

Leave a Comment