Seaward Management Limited Partnership continued to hold its stake in shares of Target Corp. (NYSE:TGT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,944 shares of the retailer’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Target Corp. were worth $205,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TGT. Arcadia Investment Management Corp MI increased its stake in shares of Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock valued at $119,000 after buying an additional 500 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Target Corp. during the first quarter valued at $165,000. Duncker Streett & Co. Inc. increased its stake in shares of Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Target Corp. by 25.5% in the second quarter. Joel Isaacson & Co. LLC now owns 2,401 shares of the retailer’s stock valued at $168,000 after buying an additional 488 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock valued at $178,000 after buying an additional 797 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Corp. (NYSE:TGT) traded down 2.25% during mid-day trading on Monday, hitting $67.22. The company’s stock had a trading volume of 6,902,755 shares. The company has a 50-day moving average price of $70.72 and a 200-day moving average price of $74.22. The stock has a market cap of $38.64 billion, a PE ratio of 12.44 and a beta of 0.68. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14.
Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The firm earned $16.20 billion during the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Analysts predict that Target Corp. will post $4.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.57%. Target Corp.’s dividend payout ratio is 44.44%.
TGT has been the topic of several recent analyst reports. Vetr raised Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 target price on the stock in a research note on Monday, July 4th. Miller Tabak began coverage on Target Corp. in a research report on Friday, July 29th. They set a “buy” rating and a $87.00 price target on the stock. Citigroup Inc. reiterated a “buy” rating and set a $80.00 price target on shares of Target Corp. in a research report on Thursday, August 18th. Nomura set a $75.00 price target on Target Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research upgraded Target Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus 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.
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