TD Asset Management Inc. lessened its stake in Target Co. (NYSE:TGT) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 309,332 shares of the retailer’s stock after selling 7,972 shares during the quarter. TD Asset Management Inc. owned 0.06% of Target worth $26,792,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in Target in the 2nd quarter valued at approximately $31,000. Icon Wealth Partners LLC acquired a new position in Target in the 1st quarter valued at approximately $31,000. Advisory Alpha LLC acquired a new position in Target in the 1st quarter valued at approximately $30,000. C J Advisory Inc acquired a new position in Target in the 1st quarter valued at approximately $33,000. Finally, Buffington Mohr McNeal acquired a new position in Target in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
Shares of NYSE TGT traded up $1.46 during trading hours on Friday, hitting $84.02. 156,449 shares of the stock were exchanged, compared to its average volume of 4,680,004. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The company’s 50 day moving average is $86.01 and its 200 day moving average is $80.25. The firm has a market capitalization of $42.81 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.01 and a beta of 0.61. Target Co. has a one year low of $60.15 and a one year high of $90.39.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio is currently 47.50%.
In other Target news, insider Janna A. Potts sold 8,759 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total value of $691,961.00. Following the completion of the sale, the insider now directly owns 27,720 shares of the company’s stock, valued at approximately $2,189,880. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,180 shares of company stock valued at $2,854,650. 0.24% of the stock is owned by insiders.
TGT has been the topic of several analyst reports. Bank of America set a $105.00 price target on shares of Target and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays restated a “buy” rating and set a $95.00 price target on shares of Target in a research note on Thursday, May 30th. Deutsche Bank upgraded shares of Target from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $99.00 in a research note on Monday, August 5th. Credit Suisse Group set a $90.00 price target on shares of Target and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Citigroup increased their price target on shares of Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $90.06.
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.
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