Public Employees Retirement Association of Colorado decreased its position in shares of Target Corp. (NYSE:TGT) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 120,431 shares of the retailer’s stock after selling 12,674 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Target Corp. were worth $8,408,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of 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 last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Target Corp. by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 2,404,482 shares of the retailer’s stock worth $197,841,000 after buying an additional 10,728 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Target Corp. during the second quarter worth about $133,059,000. Renaissance Technologies LLC increased its stake in shares of 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 last quarter. Finally, Cambiar Investors LLC bought a new stake in shares of Target Corp. during the second quarter worth about $89,152,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corp. (NYSE:TGT) traded up 0.32% during mid-day trading on Friday, hitting $68.11. 3,818,656 shares of the stock were exchanged. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14. The company has a 50-day moving average price of $68.99 and a 200-day moving average price of $73.01. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 12.60 and a beta of 0.68.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The firm earned $16.20 billion during the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. Equities analysts expect that Target Corp. will post $4.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 annualized dividend and a yield of 3.52%. Target Corp.’s payout ratio is currently 44.44%.
TGT has been the topic of several recent research reports. Jefferies Group reiterated a “hold” rating and issued a $72.00 price objective on shares of Target Corp. in a research note on Thursday, August 18th. Argus reiterated a “hold” rating on shares of Target Corp. in a research note on Thursday, July 7th. Nomura set a $75.00 price objective on shares of Target Corp. and gave the stock a “hold” rating in a research note on Friday, October 7th. Vetr cut shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $74.42 price objective on the stock. in a research note on Monday, September 19th. Finally, Edward Jones cut shares of Target Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company. Target Corp. currently has a consensus rating of “Hold” and a consensus target price 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.
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