XR Securities LLC reduced its position in shares of Target Co. (NYSE:TGT) by 84.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,248 shares of the retailer’s stock after selling 12,339 shares during the period. XR Securities LLC’s holdings in Target were worth $240,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TGT. Krane Funds Advisors LLC acquired a new stake in shares of Target during the second quarter valued at about $25,000. Advisory Alpha LLC acquired a new stake in shares of Target during the first quarter valued at about $30,000. Larson Financial Group LLC acquired a new stake in shares of Target during the second quarter valued at about $31,000. Phocas Financial Corp. acquired a new stake in shares of Target during the second quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Target during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.
In related news, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laysha Ward sold 20,000 shares of Target stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the completion of the transaction, the insider now owns 88,171 shares of the company’s stock, valued at approximately $9,719,089.33. The disclosure for this sale can be found here. Insiders sold 93,369 shares of company stock valued at $9,751,164 in the last quarter. 0.24% of the stock is owned by insiders.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The company had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Target Co. will post 6.15 EPS for the current fiscal year.
Target declared that its Board of Directors has initiated a share repurchase program 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 programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a yield of 2.48%. Target’s dividend payout ratio is currently 48.98%.
TGT has been the subject of a number of recent analyst reports. Deutsche Bank upgraded shares of Target from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $99.00 in a research report on Monday, August 5th. Goldman Sachs Group initiated coverage on shares of Target in a research report on Thursday, July 11th. They set a “buy” rating and a $102.00 price target for the company. UBS Group lifted their price target on shares of Target from $86.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $130.00 in a research report on Thursday, August 22nd. Finally, Buckingham Research reiterated a “buy” rating and set a $117.00 price target (up from $102.00) on shares of Target in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $103.97.
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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