Conning Inc. boosted its position in shares of Target Corp. (NYSE:TGT) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,695 shares of the retailer’s stock after buying an additional 44,331 shares during the period. Conning Inc.’s holdings in Target Corp. were worth $25,742,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Arcadia Investment Management Corp MI raised its position 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. Acrospire Investment Management LLC bought a new stake in Target Corp. during the first quarter worth about $165,000. 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 period. 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 period. Finally, 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 period. 86.19% of the stock is currently owned by institutional investors.
Shares of Target Corp. (NYSE:TGT) traded up 1.59% on Tuesday, hitting $68.29. 5,778,369 shares of the company traded hands. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The stock has a market capitalization of $39.25 billion, a price-to-earnings ratio of 12.64 and a beta of 0.68. The firm’s 50 day moving average price is $70.53 and its 200-day moving average price is $74.12.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The business had revenue of $16.20 billion for the quarter. During the same quarter last year, the firm posted $1.22 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts expect that Target Corp. will post $4.96 earnings per share for the current year.
The firm also recently declared 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. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is 44.44%.
A number of analysts recently issued reports on TGT shares. Piper Jaffray Cos. restated an “outperform” rating and set a $86.00 price objective on shares of Target Corp. in a report on Monday, July 25th. Barclays PLC restated an “underweight” rating and set a $60.00 price objective on shares of Target Corp. in a report on Friday, September 16th. Vetr upgraded shares of Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective for the company in a report on Monday, July 4th. Zacks Investment Research downgraded shares of Target Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Finally, Jefferies Group restated a “hold” rating on shares of Target Corp. in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.12.
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.