Nippon Life Insurance Co. cut its holdings in shares of Target Corporation (NYSE:TGT) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,164 shares of the retailer’s stock after selling 1,002 shares during the period. Nippon Life Insurance Co.’s holdings in Target Corporation were worth $1,159,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Welch & Forbes LLC increased its position in shares of Target Corporation by 0.3% during the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock worth $450,000 after purchasing an additional 24 shares in the last quarter. Compton Capital Management Inc. RI increased its position in shares of Target Corporation by 0.4% during the first quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock worth $487,000 after purchasing an additional 32 shares in the last quarter. Gamble Jones Investment Counsel increased its position in shares of Target Corporation by 0.4% during the second quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock worth $553,000 after purchasing an additional 44 shares in the last quarter. WealthTrust Fairport LLC increased its position in shares of Target Corporation by 0.9% during the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Finally, Carlson Capital Management increased its position in shares of Target Corporation by 0.9% during the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock worth $421,000 after purchasing an additional 69 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on TGT. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target on the stock. in a research report on Monday, August 7th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. MKM Partners upped their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $67.00 price target (up from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Finally, Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Target Corporation has a consensus rating of “Hold” and an average price target of $61.64.

In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Shares of Target Corporation (TGT) opened at 57.27 on Monday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock’s 50 day moving average is $56.11 and its 200 day moving average is $55.29. The stock has a market capitalization of $31.28 billion, a price-to-earnings ratio of 11.57 and a beta of 0.60.

Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Target Corporation will post $4.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 14th. Target Corporation’s payout ratio is 50.00%.

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Target Corporation 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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Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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