Assetmark Inc. increased its position in Target Corporation (NYSE:TGT) by 2.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,688 shares of the retailer’s stock after buying an additional 179 shares during the period. Assetmark Inc.’s holdings in Target Corporation were worth $369,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Mandatum Life Insurance Co Ltd boosted its position in Target Corporation by 109.5% in the first quarter. Mandatum Life Insurance Co Ltd now owns 12,342 shares of the retailer’s stock worth $681,000 after buying an additional 6,450 shares during the period. Wills Financial Group Inc. bought a new position in Target Corporation during the first quarter worth about $1,390,000. Norinchukin Bank The boosted its position in Target Corporation by 7.4% in the first quarter. Norinchukin Bank The now owns 90,808 shares of the retailer’s stock worth $5,012,000 after buying an additional 6,290 shares during the period. Ffcm LLC boosted its position in Target Corporation by 9.3% in the first quarter. Ffcm LLC now owns 36,801 shares of the retailer’s stock worth $2,031,000 after buying an additional 3,141 shares during the period. Finally, Pitcairn Co. boosted its position in Target Corporation by 80.8% in the first quarter. Pitcairn Co. now owns 12,167 shares of the retailer’s stock worth $672,000 after buying an additional 5,438 shares during the period. 83.00% of the stock is currently owned by institutional investors.
Target Corporation (NYSE TGT) opened at 50.76 on Friday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a 50-day moving average of $55.56 and a 200 day moving average of $61.25. The company has a market capitalization of $28.00 billion, a P/E ratio of 10.40 and a beta of 0.58.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Target Corporation will post $4.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is currently 48.98%.
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A number of equities analysts have recently issued reports on the stock. Citigroup Inc. cut shares of Target Corporation from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $56.00 in a research report on Wednesday. BidaskClub cut shares of Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective on the stock in a research report on Monday, June 19th. Finally, Zacks Investment Research raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, June 6th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Target Corporation currently has a consensus rating of “Hold” and an average target price of $63.76.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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