ING Groep NV purchased a new stake in shares of Target Corp. (NYSE:TGT) during the second quarter, Holdings Channel reports. The fund purchased 24,356 shares of the retailer’s stock, valued at approximately $1,701,000.
A number of other institutional investors have also made changes to their positions in the stock. Cambiar Investors LLC purchased a new stake in Target Corp. during the second quarter valued at approximately $89,152,000. Agran Libbie raised its stake in Target Corp. by 5.9% in the second quarter. Agran Libbie now owns 5,490 shares of the retailer’s stock valued at $383,000 after buying an additional 305 shares during the period. First Midwest Bank Trust Division raised its stake in Target Corp. by 8.8% in the second quarter. First Midwest Bank Trust Division now owns 54,824 shares of the retailer’s stock valued at $3,828,000 after buying an additional 4,422 shares during the period. Calamos Advisors LLC raised its stake in Target Corp. by 595.9% in the second quarter. Calamos Advisors LLC now owns 80,523 shares of the retailer’s stock valued at $5,622,000 after buying an additional 68,952 shares during the period. Finally, Calamos Wealth Management LLC raised its stake in Target Corp. by 15.2% in the second quarter. Calamos Wealth Management LLC now owns 29,944 shares of the retailer’s stock valued at $2,091,000 after buying an additional 3,940 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Corp. (NYSE:TGT) traded down 1.33% during trading on Wednesday, hitting $67.74. 4,762,294 shares of the company traded hands. The company has a 50 day moving average price of $69.46 and a 200 day moving average price of $73.57. The company has a market capitalization of $38.94 billion, a price-to-earnings ratio of 12.54 and a beta of 0.68. 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm earned $16.20 billion during the quarter. During the same quarter in the prior year, the company posted $1.22 EPS. Target Corp.’s revenue was down 7.2% compared to the same quarter last year. On average, analysts expect that Target Corp. will post $4.95 earnings per share for the current year.
The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. Target Corp.’s dividend payout ratio is 44.44%.
TGT has been the subject of several analyst reports. Vetr lowered shares of Target Corp. from a “buy” rating to a “hold” rating and set a $72.27 price objective for the company. in a research note on Thursday, June 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $76.00 price objective on shares of Target Corp. in a research note on Wednesday, July 6th. Argus reiterated a “hold” rating on shares of Target Corp. in a research note on Thursday, July 7th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $86.00 price objective on shares of Target Corp. in a research note on Thursday, July 7th. Finally, Zacks Investment Research lowered shares of Target Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Target Corp. currently has an average rating of “Hold” and a consensus price target of $76.82.
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.