ING Groep NV raised its position in shares of Target Corporation (NYSE:TGT) by 114.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,632 shares of the retailer’s stock after buying an additional 4,071 shares during the period. ING Groep NV’s holdings in Target Corporation were worth $421,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Dodge & Cox bought a new position in shares of Target Corporation during the fourth quarter worth approximately $788,237,000. Norges Bank acquired a new position in Target Corporation during the fourth quarter valued at about $460,220,000. Renaissance Technologies LLC acquired a new position in Target Corporation during the fourth quarter valued at about $129,277,000. Equity Investment Corp Acquisition Inc acquired a new position in Target Corporation during the fourth quarter valued at about $128,071,000. Finally, Two Sigma Advisers LP boosted its position in Target Corporation by 652.1% in the third quarter. Two Sigma Advisers LP now owns 2,012,067 shares of the retailer’s stock valued at $138,189,000 after buying an additional 1,744,553 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors.
Target Corporation (TGT) traded down 5.14% during trading on Friday, hitting $52.61. The stock had a trading volume of 49,483,272 shares. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a 50 day moving average price of $55.91 and a 200-day moving average price of $62.06. The firm has a market capitalization of $29.03 billion, a PE ratio of 10.78 and a beta of 0.58. Target Corporation also saw unusually large options trading activity on Friday. Traders bought 4,936 call options on the company. This is an increase of approximately 262% compared to the average volume of 1,363 call options.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The company had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. Target Corporation’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. On average, equities research analysts expect that Target Corporation will post $4.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.71%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s payout ratio is currently 48.98%.
TGT has been the subject of several analyst reports. Cowen and Company reaffirmed a “market perform” rating and set a $75.00 target price on shares of Target Corporation in a report on Tuesday, February 28th. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 price objective for the company. in a research note on Tuesday, May 9th. UBS AG reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Target Corporation in a research report on Tuesday, February 28th. Instinet dropped their target price on Target Corporation to $60.00 in a research report on Wednesday, March 1st. Finally, BMO Capital Markets reissued a “market weight” rating and set a $60.00 price objective (down previously from $74.00) on shares of Target Corporation in a report on Sunday, March 5th. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $64.68.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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