Legacy Private Trust Co. has recently made a 12.4% reduction in its position in shares of Target Co., as per the company’s most recent filing with the Securities and Exchange Commission (SEC). It sold 4,596 shares during the first quarter, leaving it with ownership of 32,608 shares valued at $5,401,000 as of the latest SEC filing.
In addition to this development, Target Co. has also announced a quarterly dividend which will be paid on Sunday, September 10th to shareholders of record as of Wednesday, August 16th. The dividend amount is $1.10 per share, which is a positive increase from its previous quarter’s amount of $1.08 per share. This translates to an annualized dividend of $4.40 per share and yields a handsome return at 3.30%. However, shareholders should note that the ex-dividend date is scheduled for Tuesday, August 15th.
Furthermore, there have been reports that CAO Matthew A. Liegel sold off a total of 1,459 shares in Target Co., for an average price of $160.75 per share on Thursday, May 18th this year which amounted to a total value of $234,534.25.The chief accounting officer now holds approximately 3,748 shares in the company after making this sale worth about $602 thousand dollars at current valuation.
It’s noteworthy that these actions taken by Legacy Private Trust Co.and Matthew A.Liegel are mere reflections of activities carried out by institutional investors and insiders in order to capitalize on favorable gains relating to their holdings which may dictate more elaborate movements by retail investors or individuals who follow them closely.
Target Co.’s dividends payout ratio currently stands at an impressive19%, meaning that given their consistent performance over time they can afford to pay out high dividends without compromising on growth plans needed to expand profits.This information coupled with reduced holdings by Legacy Private Trust Co. and a reduction in shares held by Matthew A.Liegel may have different implications for retail investors – while it could mean a downward trend for the stock in the short term, it could also mean more opportunity for returns at later dates.
Investors who are looking to invest in Target can now carefully consider their investment options given these developments.
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Target Corporation’s Changing Stock Ownership: Confidence Grows among Institutional Investors while Analysts Deliver Mixed Predictions
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”TGT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Target Corporation, a leading American retail company, has seen significant changes in its stock ownership in recent months. Institutional investors like Moneta Group Investment Advisors LLC and Norges Bank have acquired large stakes in the company, amounting to billions of dollars in holdings. Even existing investors like Amundi and State Street Corp have boosted their stake in Target significantly during this period.
With institutional investors now owning 79.05% of Target’s stock, it seems that confidence in the company is growing among investors. However, research notes from financial analysts paint a mixed picture of the stock’s future prospects. TheStreet downgraded the stock from a “b-” rating to a “c+” rating recently, while JPMorgan Chase & Co lowered its target price for the stock from $182 to $144.
Despite these concerns, many investors remain optimistic about Target’s future performance. Fifteen analysts have currently rated Target as a hold while twelve have given it a buy rating, with one analyst issuing a strong buy rating for the company. This leads to an average target price of $178.10 according to Bloomberg.com.
Target has also declared an increase in its quarterly dividend payment from $1.08 to $1.10 per share starting September 10th of this year. With a yield of 3.30%, this represents good news for shareholders.
The company has demonstrated strong financial performance during its most recent earnings period, with revenue up compared to estimates and earnings per share beating consensus predictions by $0.29. While market volatility can be unpredictable and impact Target’s financials going forward, many investment experts believe that the retailer still holds promise for long-term growth potential.
As of June 22nd, TGT opened at $133.22 on the New York Stock Exchange with a market capitalization of $61.49 billion and several positive reports favoring alternative investment strategies currently abound all over Wall Street investment meeting rooms when considering retail stocks.
