LMR Partners LLP reduced its stake in shares of Target Corp. (NYSE:TGT) by 14.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,577 shares of the retailer’s stock after selling 788 shares during the period. LMR Partners LLP’s holdings in Target Corp. were worth $320,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Target Corp. during the second quarter worth about $133,059,000. Renaissance Technologies LLC increased its stake in Target Corp. by 420.3% in the first quarter. Renaissance Technologies LLC now owns 1,837,200 shares of the retailer’s stock worth $151,165,000 after buying an additional 1,484,100 shares during the period. Cambiar Investors LLC acquired a new stake in Target Corp. during the second quarter worth about $89,152,000. BlackRock Group LTD increased its stake in Target Corp. by 13.2% in the first quarter. BlackRock Group LTD now owns 6,103,052 shares of the retailer’s stock worth $502,158,000 after buying an additional 710,847 shares during the period. Finally, American Century Companies Inc. increased its stake in Target Corp. by 25.1% in the second quarter. American Century Companies Inc. now owns 3,421,175 shares of the retailer’s stock worth $238,866,000 after buying an additional 686,125 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.
Target Corp. (NYSE:TGT) traded up 0.04% on Thursday, hitting $67.89. 3,190,965 shares of the company were exchanged. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The company has a market capitalization of $39.02 billion, a P/E ratio of 12.56 and a beta of 0.68. The firm’s 50 day moving average is $69.18 and its 200 day moving average is $73.15.
Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The firm had revenue of $16.20 billion for the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. On average, equities research analysts forecast that Target Corp. will post $4.95 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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
TGT has been the subject of several recent research reports. Credit Suisse Group AG initiated coverage on shares of Target Corp. in a research report on Friday, September 16th. They issued a “neutral” rating and a $65.00 price objective for the company. MKM Partners reaffirmed a “neutral” rating and issued a $78.00 price objective (up previously from $73.00) on shares of Target Corp. in a research report on Tuesday, August 16th. Vetr downgraded shares of Target Corp. from a “buy” rating to a “hold” rating and set a $75.39 price objective for the company. in a research report on Monday, July 11th. Nomura set a $75.00 price objective on shares of Target Corp. and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $86.00 price objective on shares of Target Corp. in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.49.
Target Corp. Company Profile
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.
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corp. (NYSE:TGT).
Receive News & Ratings for Target Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corp. and related companies with MarketBeat.com's FREE daily email newsletter.