Nisa Investment Advisors LLC Decreases Stake in Target Corp. (TGT)
Nisa Investment Advisors LLC decreased its stake in Target Corp. (NYSE:TGT) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,482 shares of the retailer’s stock after selling 207 shares during the period. Nisa Investment Advisors LLC’s holdings in Target Corp. were worth $15,830,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Meritage Portfolio Management increased its position in shares of 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 last quarter. Polaris Greystone Financial Group LLC increased its position in shares of Target Corp. by 19.4% in the second quarter. Polaris Greystone Financial Group LLC now owns 205,219 shares of the retailer’s stock valued at $14,328,000 after buying an additional 33,308 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of 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 last quarter. Huntington National Bank increased its position in shares of Target Corp. by 30.3% in the second quarter. Huntington National Bank now owns 192,968 shares of the retailer’s stock valued at $13,472,000 after buying an additional 44,895 shares during the last quarter. Finally, PGGM Investments increased its position in shares of Target Corp. by 16.7% in the second quarter. PGGM Investments now owns 857,483 shares of the retailer’s stock valued at $59,869,000 after buying an additional 122,414 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
Target Corp. (NYSE:TGT) traded up 1.0130% on Tuesday, hitting $78.5073. The stock had a trading volume of 1,367,470 shares. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm’s 50-day moving average price is $70.42 and its 200-day moving average price is $70.57. The firm has a market cap of $44.25 billion, a P/E ratio of 13.9693 and a beta of 0.59.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.21. The business earned $16.44 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. Target Corp.’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. On average, equities research analysts predict that Target Corp. will post $5.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, November 14th. This represents a $2.40 annualized dividend and a dividend yield of 3.05%. Target Corp.’s dividend payout ratio (DPR) is presently 42.93%.
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Several analysts have commented on the company. Telsey Advisory Group lowered their price target on Target Corp. from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $79.09 price target for the company in a report on Monday, August 1st. Piper Jaffray Cos. restated an “overweight” rating and issued a $86.00 price target on shares of Target Corp. in a report on Wednesday, August 17th. Cowen and Company restated an “outperform” rating and issued a $75.00 price target (down previously from $81.00) on shares of Target Corp. in a report on Wednesday, August 17th. Finally, Nomura set a $75.00 price target on Target Corp. and gave the company a “hold” rating in a report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the stock. Target Corp. presently has an average rating of “Hold” and an average target price of $75.02.
In related news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.
About Target Corp.
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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