MUFG Americas Holdings Corp lowered its stake in Target Co. (NYSE:TGT) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,585 shares of the retailer’s stock after selling 4,000 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Target were worth $9,275,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Engineers Gate Manager LP lifted its stake in Target by 207.7% in the 1st quarter. Engineers Gate Manager LP now owns 32,094 shares of the retailer’s stock worth $2,228,000 after purchasing an additional 21,663 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in Target by 38.6% in the 1st quarter. Johnson Financial Group Inc. now owns 14,427 shares of the retailer’s stock worth $1,001,000 after purchasing an additional 4,016 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Target by 13.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,874,432 shares of the retailer’s stock worth $269,002,000 after purchasing an additional 452,349 shares in the last quarter. Eaton Vance Management lifted its stake in Target by 2.4% in the 1st quarter. Eaton Vance Management now owns 97,797 shares of the retailer’s stock worth $6,790,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Wealthfront Inc. lifted its stake in Target by 11.2% in the 1st quarter. Wealthfront Inc. now owns 43,052 shares of the retailer’s stock worth $2,989,000 after purchasing an additional 4,320 shares in the last quarter. Institutional investors and hedge funds own 88.98% of the company’s stock.
Several analysts have commented on TGT shares. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price target on the stock in a research note on Saturday, January 20th. Wolfe Research upgraded shares of Target from an “underperform” rating to a “market perform” rating in a research report on Monday, April 16th. Robert W. Baird upgraded shares of Target from a “neutral” rating to an “outperform” rating and upped their target price for the company from $75.00 to $85.00 in a research report on Wednesday, February 14th. Cowen set a $80.00 target price on shares of Target and gave the company a “hold” rating in a research report on Thursday, February 8th. Finally, Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.37.
Shares of Target opened at $70.25 on Monday, Marketbeat reports. The stock has a market cap of $37.65 billion, a P/E ratio of 14.88, a PEG ratio of 2.96 and a beta of 0.71. Target Co. has a 12 month low of $48.56 and a 12 month high of $78.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95.
Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). The firm had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. equities analysts forecast that Target Co. will post 5.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $2.48 annualized dividend and a yield of 3.53%. Target’s payout ratio is 52.65%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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