Monarch Capital Management Inc. reduced its position in shares of Target Corp. (NYSE:TGT) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,935 shares of the retailer’s stock after selling 50 shares during the period. Monarch Capital Management Inc.’s holdings in Target Corp. were worth $1,322,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in TGT. Arcadia Investment Management Corp MI increased its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock worth $178,000 after buying an additional 797 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in Target Corp. by 25.5% in the second quarter. Joel Isaacson & Co. LLC now owns 2,401 shares of the retailer’s stock worth $168,000 after buying an additional 488 shares during the last quarter. Finally, William Harris Investors Inc. bought a new stake in Target Corp. during the first quarter worth about $200,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.
Shares of Target Corp. (NYSE:TGT) traded down 1.42% during trading on Monday, reaching $67.14. 3,092,865 shares of the company were exchanged. The stock has a market capitalization of $38.59 billion, a P/E ratio of 12.42 and a beta of 0.68. The stock has a 50-day moving average of $68.99 and a 200 day moving average of $73.01. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14.
Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the 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 firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. On average, equities analysts anticipate 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. Investors of record on Wednesday, November 16th will be given a $0.60 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.40 annualized dividend and a yield of 3.52%. Target Corp.’s dividend payout ratio (DPR) is currently 44.44%.
A number of research firms recently issued reports on TGT. Credit Suisse Group AG began coverage on shares of Target Corp. in a report on Friday, September 16th. They issued a “neutral” rating and a $65.00 target price for the company. MKM Partners restated a “neutral” rating and issued a $78.00 target price (up from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Vetr cut shares of Target Corp. from a “buy” rating to a “hold” rating and set a $75.39 price target on the stock. in a research report on Monday, July 11th. Nomura set a $75.00 price target 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 set a $86.00 price target 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. Target Corp. presently has an average rating of “Hold” and an average target price of $74.49.
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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