Hancock Whitney Corp reduced its holdings in shares of Target Co. (NYSE:TGT – Free Report) by 26.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,088 shares of the retailer’s stock after selling 766 shares during the quarter. Hancock Whitney Corp’s holdings in Target were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in shares of Target during the 2nd quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target during the 4th quarter valued at $28,000. Slocum Gordon & Co LLP bought a new position in shares of Target during the 2nd quarter valued at $28,000. Scarborough Advisors LLC purchased a new position in shares of Target in the 4th quarter worth $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Target in the second quarter worth $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Analysis on TGT
Target Stock Up 0.3 %
Shares of TGT opened at $155.29 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market capitalization of $71.84 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The business’s 50 day simple moving average is $148.56 and its 200-day simple moving average is $154.74.
Target (NYSE:TGT – Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. Target’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.
Target Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.88%. Target’s dividend payout ratio (DPR) is presently 50.28%.
About Target
Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.
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