Meeder Asset Management Inc. lowered its stake in Target Corp. (NYSE:TGT) by 28.2% during the second quarter, Holdings Channel reports. The institutional investor owned 27,836 shares of the retailer’s stock after selling 10,948 shares during the period. Meeder Asset Management Inc.’s holdings in Target Corp. were worth $1,943,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of TGT. Johanson Financial Advisors Inc. raised its stake in Target Corp. by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 4,733 shares of the retailer’s stock valued at $329,000 after buying an additional 17 shares during the last quarter. New Century Investment Management Inc. raised its stake in Target Corp. by 0.4% in the first quarter. New Century Investment Management Inc. now owns 6,981 shares of the retailer’s stock valued at $574,000 after buying an additional 31 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Target Corp. by 1.2% in the second quarter. Patten & Patten Inc. TN now owns 3,518 shares of the retailer’s stock valued at $246,000 after buying an additional 43 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in Target Corp. by 1.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 3,841 shares of the retailer’s stock valued at $316,000 after buying an additional 50 shares during the last quarter. Finally, Mariner Wealth Advisors LLC raised its stake in Target Corp. by 0.9% in the first quarter. Mariner Wealth Advisors LLC now owns 6,472 shares of the retailer’s stock valued at $533,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.
Shares of Target Corp. (NYSE:TGT) traded up 1.42% on Friday, reaching $68.68. 4,900,507 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $70.09 and its 200-day moving average price is $73.93. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The company has a market capitalization of $39.48 billion, a P/E ratio of 12.71 and a beta of 0.68.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The firm earned $16.20 billion during the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. Analysts anticipate that Target Corp. will post $4.96 EPS 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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.
Several analysts have recently commented on TGT shares. Morgan Stanley set a $64.00 price target on shares of Target Corp. and gave the company a “sell” rating in a research report on Friday, August 19th. Vetr lowered shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 price target on the stock. in a research report on Monday, September 12th. Argus reissued a “hold” rating on shares of Target Corp. in a research report on Thursday, September 8th. Credit Suisse Group AG initiated coverage on Target Corp. in a research report on Friday, September 16th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Barclays PLC reissued an “underweight” rating and issued a $60.00 target price on shares of Target Corp. in a research report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $77.12.
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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