Assetmark Inc. raised its stake in shares of Target Corporation (NYSE:TGT) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,688 shares of the retailer’s stock after buying an additional 179 shares during the period. Assetmark Inc.’s holdings in Target Corporation were worth $369,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in TGT. Dodge & Cox acquired a new position in Target Corporation during the fourth quarter valued at approximately $788,237,000. Norges Bank acquired a new position in Target Corporation during the fourth quarter valued at approximately $460,220,000. Renaissance Technologies LLC acquired a new position in Target Corporation during the fourth quarter valued at approximately $129,277,000. Bank of New York Mellon Corp raised its position in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock valued at $527,380,000 after buying an additional 996,689 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Target Corporation by 1,238.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,048,966 shares of the retailer’s stock valued at $75,793,000 after buying an additional 970,585 shares during the period. Institutional investors and hedge funds own 83.00% of the company’s stock.
Target Corporation (NYSE TGT) opened at 50.76 on Friday. The firm’s 50-day moving average is $55.56 and its 200-day moving average is $61.25. The stock has a market cap of $28.00 billion, a P/E ratio of 10.40 and a beta of 0.58. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities research analysts predict that Target Corporation will post $4.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. Target Corporation’s dividend payout ratio is 48.98%.
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Several equities analysts have commented on TGT shares. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a research report on Wednesday, May 10th. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Buckingham Research reiterated a “buy” rating and set a $71.00 price objective on shares of Target Corporation in a research report on Wednesday, April 19th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $63.76.
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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