TD Asset Management Inc. Increases Position in Target Corp. (TGT)
TD Asset Management Inc. raised its position in shares of Target Corp. (NYSE:TGT) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 459,435 shares of the retailer’s stock after buying an additional 4,249 shares during the period. TD Asset Management Inc. owned approximately 0.08% of Target Corp. worth $31,554,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Meritage Portfolio Management boosted its stake 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 worth $13,330,000 after buying an additional 51,785 shares during the last quarter. Polaris Greystone Financial Group LLC boosted its stake 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 worth $14,328,000 after buying an additional 33,308 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake 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 worth $80,872,000 after buying an additional 69,809 shares during the last quarter. Huntington National Bank boosted its stake 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 worth $13,472,000 after buying an additional 44,895 shares during the last quarter. Finally, PGGM Investments boosted its stake in shares of Target Corp. by 16.7% in the second quarter. PGGM Investments now owns 857,483 shares of the retailer’s stock worth $59,869,000 after buying an additional 122,414 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
Target Corp. (NYSE:TGT) traded up 0.647% during midday trading on Tuesday, reaching $78.223. The company’s stock had a trading volume of 450,387 shares. The firm has a 50 day moving average price of $70.42 and a 200 day moving average price of $70.57. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm has a market capitalization of $44.09 billion, a PE ratio of 13.919 and a beta of 0.59.
Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. Target Corp.’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. On average, analysts predict that Target Corp. will post $5.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio is presently 42.93%.
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A number of equities research analysts recently commented on TGT shares. Zacks Investment Research cut shares of Target Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Morgan Stanley set a $64.00 price target on shares of Target Corp. and gave the stock a “sell” rating in a research note on Friday, August 19th. Vetr cut shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 price target on the stock. in a research note on Monday, September 12th. Argus reaffirmed a “hold” rating on shares of Target Corp. in a research note on Thursday, September 8th. Finally, Credit Suisse Group AG assumed coverage on shares of Target Corp. in a research note on Friday, September 16th. They set a “neutral” rating and a $65.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Target Corp. has a consensus rating of “Hold” and a consensus price target of $75.02.
In other news, Director Anne M. Mulcahy sold 3,957 shares of the business’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 legal filing with the SEC, which can be accessed through this link. 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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