Trading Report: Today, Canal Capital Management LLC Buys Shares of 14,506 Target Corp. (TGT)

Today, Canal Capital Management LLC Buys Shares of 14,506 Target Corp. (TGT)

Canal Capital Management LLC purchased a new stake in Target Corp. (NYSE:TGT) during the third quarter, Holdings Channel reports. The firm purchased 14,506 shares of the retailer’s stock, valued at approximately $996,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in Target Corp. by 557.3% in the first quarter. Squarepoint Ops LLC now owns 18,259 shares of the retailer’s stock valued at $1,502,000 after buying an additional 15,481 shares during the last quarter. Logan Capital Management Inc. increased its stake in shares of Target Corp. by 15.4% in the first quarter. Logan Capital Management Inc. now owns 3,426 shares of the retailer’s stock valued at $282,000 after buying an additional 456 shares during the period. Laffer Investments increased its stake in shares of Target Corp. by 9.5% in the first quarter. Laffer Investments now owns 8,833 shares of the retailer’s stock valued at $727,000 after buying an additional 766 shares during the period. Iowa State Bank increased its stake in shares of Target Corp. by 2.6% in the second quarter. Iowa State Bank now owns 51,242 shares of the retailer’s stock valued at $3,578,000 after buying an additional 1,275 shares during the period. Finally, Fulton Bank N.A. increased its stake in shares of Target Corp. by 22.4% in the second quarter. Fulton Bank N.A. now owns 3,966 shares of the retailer’s stock valued at $277,000 after buying an additional 725 shares during the period. Hedge funds and other institutional investors own 84.37% of the company’s stock.

Shares of Target Corp. (NYSE:TGT) traded up 0.17% on Friday, hitting $78.61. The stock had a trading volume of 2,543,818 shares. The firm has a 50-day moving average price of $70.18 and a 200-day moving average price of $70.66. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The stock has a market capitalization of $44.31 billion, a P/E ratio of 13.99 and a beta of 0.59.

Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. The company had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. Target Corp.’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Equities analysts expect that Target Corp. will post $5.20 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a $0.60 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.40 annualized dividend and a yield of 3.05%. Target Corp.’s payout ratio is 42.93%.

Several analysts have recently commented on the stock. Buckingham Research raised their price objective on shares of Target Corp. to $85.00 in a research report on Wednesday, November 16th. Telsey Advisory Group raised their price objective on shares of Target Corp. from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $79.00 price objective on shares of Target Corp. in a research report on Thursday, November 17th. Nomura reaffirmed a “hold” rating and set a $75.00 price objective on shares of Target Corp. in a research report on Thursday, November 17th. Finally, Deutsche Bank AG raised their price objective on shares of Target Corp. from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Monday, August 15th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.62.

In other Target Corp. news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $75.45, for a total value of $298,555.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

About Target Corp.

Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

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