Kanawha Capital Management LLC increased its stake in shares of Target Corp. (NYSE:TGT) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 113,092 shares of the retailer’s stock after buying an additional 5,494 shares during the period. Target Corp. accounts for about 1.3% of Kanawha Capital Management LLC’s holdings, making the stock its 26th largest position. Kanawha Capital Management LLC’s holdings in Target Corp. were worth $7,896,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Edgar Lomax Co. VA boosted its stake in Target Corp. by 501.1% in the first quarter. Edgar Lomax Co. VA now owns 715,210 shares of the retailer’s stock valued at $58,847,000 after buying an additional 596,230 shares during the period. Meritage Portfolio Management boosted its stake in Target Corp. by 37.2% in the second quarter. Meritage Portfolio Management now owns 190,926 shares of the retailer’s stock valued at $13,330,000 after buying an additional 51,785 shares during the period. First Republic Investment Management Inc. boosted its stake in Target Corp. by 6.9% in the first quarter. First Republic Investment Management Inc. now owns 642,667 shares of the retailer’s stock valued at $52,877,000 after buying an additional 41,235 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Target Corp. by 6.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,158,318 shares of the retailer’s stock valued at $80,872,000 after buying an additional 69,809 shares during the period. Finally, Strs Ohio boosted its stake in Target Corp. by 4.8% in the second quarter. Strs Ohio now owns 522,392 shares of the retailer’s stock valued at $36,473,000 after buying an additional 24,086 shares during the period. Institutional investors and hedge funds own 86.16% of the company’s stock.
Target Corp. (NYSE:TGT) traded down 1.32% on Monday, reaching $67.21. The company’s stock had a trading volume of 2,786,522 shares. The firm has a 50-day moving average of $68.99 and a 200 day moving average of $73.01. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of 12.44 and a beta of 0.68. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the 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 firm earned $16.20 billion during the quarter. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Target Corp. will post $4.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders 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 3.52%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.
Several analysts recently weighed in on TGT shares. Morgan Stanley set a $64.00 price target on shares of Target Corp. and gave the company a “sell” rating in a report on Friday, August 19th. Vetr cut shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 target price on the stock. in a report on Monday, September 12th. Argus restated a “hold” rating on shares of Target Corp. in a report on Thursday, September 8th. Credit Suisse Group AG initiated coverage on shares of Target Corp. in a report on Friday, September 16th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Barclays PLC restated an “underweight” rating and set a $60.00 target price on shares of Target Corp. in a report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.49.
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.
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