Meeder Asset Management Inc. cut its stake in Target Corporation (NYSE:TGT) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,540 shares of the retailer’s stock after selling 10,399 shares during the quarter. Meeder Asset Management Inc.’s holdings in Target Corporation were worth $2,923,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in TGT. Mandatum Life Insurance Co Ltd increased its stake in shares of Target Corporation by 109.5% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 12,342 shares of the retailer’s stock valued at $681,000 after acquiring an additional 6,450 shares during the last quarter. Assetmark Inc. increased its stake in shares of Target Corporation by 2.8% in the 1st quarter. Assetmark Inc. now owns 6,688 shares of the retailer’s stock valued at $369,000 after acquiring an additional 179 shares during the last quarter. Sitrin Capital Management LLC bought a new stake in shares of Target Corporation in the 1st quarter valued at about $3,624,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Target Corporation by 9.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,892 shares of the retailer’s stock valued at $2,368,000 after acquiring an additional 3,724 shares during the last quarter. Finally, Rational Advisors LLC increased its stake in shares of Target Corporation by 67.5% in the 1st quarter. Rational Advisors LLC now owns 28,194 shares of the retailer’s stock valued at $1,556,000 after acquiring an additional 11,361 shares during the last quarter. 83.23% of the stock is owned by institutional investors.
A number of analysts have recently commented on TGT shares. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price target for the company. in a research note on Friday, July 14th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. BMO Capital Markets upped their price target on Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Cowen and Company reaffirmed a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Finally, BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.75.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.
Target Corporation (NYSE TGT) traded up 2.194% during midday trading on Monday, hitting $63.115. The stock had a trading volume of 2,880,932 shares. The stock’s 50-day moving average is $58.82 and its 200-day moving average is $55.75. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a market capitalization of $34.48 billion, a PE ratio of 12.753 and a beta of 0.62.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Target Corporation will post $4.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.02%. Target Corporation’s dividend payout ratio is presently 50.00%.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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