Stoneridge Investment Partners LLC lowered its stake in shares of Target Corp. (NYSE:TGT) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,549 shares of the retailer’s stock after selling 6,500 shares during the period. Target Corp. accounts for approximately 1.4% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 10th largest position. Stoneridge Investment Partners LLC’s holdings in Target Corp. were worth $9,604,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC raised its stake in shares of Target Corp. by 21,242.1% in the first quarter. Gradient Investments LLC now owns 49,727 shares of the retailer’s stock worth $4,092,000 after buying an additional 49,494 shares during the period. Osborn Rohs Williams & Donohoe Ltd raised its stake in shares of Target Corp. by 1.6% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 61,370 shares of the retailer’s stock worth $5,050,000 after buying an additional 949 shares during the period. Acadian Asset Management LLC raised its stake in shares of Target Corp. by 9.3% in the first quarter. Acadian Asset Management LLC now owns 467,395 shares of the retailer’s stock worth $38,457,000 after buying an additional 39,865 shares during the period. Iberiabank Corp raised its stake in shares of Target Corp. by 8.5% in the first quarter. Iberiabank Corp now owns 38,003 shares of the retailer’s stock worth $3,127,000 after buying an additional 2,982 shares during the period. Finally, Coastline Trust Co raised its stake in shares of Target Corp. by 4.3% in the first quarter. Coastline Trust Co now owns 3,370 shares of the retailer’s stock worth $278,000 after buying an additional 140 shares during the period. 86.19% of the stock is currently owned by institutional investors.
Shares of Target Corp. (NYSE:TGT) traded up 0.31% during trading on Friday, reaching $68.77. 3,541,859 shares of the company’s stock traded hands. The stock has a market cap of $39.53 billion, a P/E ratio of 12.73 and a beta of 0.68. The company has a 50 day moving average price of $70.94 and a 200-day moving average price of $74.41. Target Corp. has a one year low of $65.50 and a one year high of $84.14.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The firm earned $16.20 billion during the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. On average, equities research analysts expect that Target Corp. will post $4.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s payout ratio is currently 44.44%.
A number of equities research analysts have issued reports on TGT shares. Vetr lowered shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $75.66 price target on the stock. in a report on Tuesday, May 31st. BMO Capital Markets reissued a “market perform” rating and issued a $76.00 price target on shares of Target Corp. in a report on Wednesday, July 6th. Argus reaffirmed a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $86.00 target price on shares of Target Corp. in a research report on Thursday, July 7th. Finally, Zacks Investment Research cut shares of Target Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. Target Corp. presently has an average rating of “Hold” and a consensus target price 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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