Meeder Asset Management Inc. grew its holdings in shares of Target Co. (NYSE:TGT) by 322.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,637 shares of the retailer’s stock after buying an additional 21,852 shares during the quarter. Meeder Asset Management Inc.’s holdings in Target were worth $5,672,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in TGT. Clark Financial Advisors bought a new stake in shares of Target in the fourth quarter valued at approximately $27,000. Tortoise Investment Management LLC purchased a new stake in shares of Target in the 4th quarter valued at $27,000. IronBridge Private Wealth LLC bought a new stake in Target during the 4th quarter valued at $28,000. Ellis Investment Partners LLC raised its holdings in Target by 61.7% during the 4th quarter. Ellis Investment Partners LLC now owns 173 shares of the retailer’s stock valued at $31,000 after buying an additional 66 shares during the last quarter. Finally, Insight Financial Services bought a new stake in Target during the 4th quarter valued at $34,000. 79.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on TGT. Telsey Advisory Group reduced their target price on shares of Target from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 3rd. Jefferies Financial Group lowered their price objective on shares of Target from $205.00 to $188.00 and set a “hold” rating on the stock in a research note on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Target from $194.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. Robert W. Baird reduced their price objective on shares of Target from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 9th. Finally, Guggenheim raised shares of Target from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Monday, March 15th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Target currently has a consensus rating of “Buy” and an average price target of $186.35.
Target (NYSE:TGT) last released its earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.13. Target had a return on equity of 34.94% and a net margin of 4.31%. The business had revenue of $28 billion for the quarter, compared to the consensus estimate of $27.42 billion. During the same period last year, the business earned $1.69 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 9.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s dividend payout ratio (DPR) is presently 42.57%.
In other Target news, CAO Robert M. Harrison sold 2,353 shares of the business’s stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $203.61, for a total transaction of $479,094.33. Following the sale, the chief accounting officer now directly owns 10,395 shares of the company’s stock, valued at approximately $2,116,525.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Edward Mcnamara sold 31,423 shares of the business’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $204.32, for a total transaction of $6,420,347.36. Following the sale, the insider now directly owns 139,768 shares in the company, valued at $28,557,397.76. The disclosure for this sale can be found here. Insiders have sold a total of 39,510 shares of company stock valued at $8,002,521 in the last ninety days. Company insiders own 0.52% of the company’s stock.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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