Nomura Asset Management Co. Ltd. increased its stake in Target Corporation (NYSE:TGT) by 15.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 97,110 shares of the retailer’s stock after buying an additional 12,640 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Target Corporation were worth $6,669,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Princeton Alpha Management LP boosted its position in Target Corporation by 118.7% in the third quarter. Princeton Alpha Management LP now owns 29,911 shares of the retailer’s stock valued at $2,054,000 after buying an additional 16,235 shares during the last quarter. Polaris Greystone Financial Group LLC boosted its position in Target Corporation 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. Morgan Stanley boosted its position in Target Corporation by 31.8% in the third quarter. Morgan Stanley now owns 4,338,213 shares of the retailer’s stock valued at $297,947,000 after buying an additional 1,045,711 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Target Corporation 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. Finally, Huntington National Bank boosted its position in Target Corporation 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. 86.63% of the stock is owned by hedge funds and other institutional investors.
Target Corporation (NYSE:TGT) traded down 0.01% during midday trading on Wednesday, hitting $71.42. The company had a trading volume of 1,366,322 shares. The company’s 50 day moving average is $75.73 and its 200 day moving average is $71.97. The stock has a market cap of $40.12 billion, a price-to-earnings ratio of 12.71 and a beta of 0.62. Target Corporation has a 12-month low of $65.50 and a 12-month high of $84.14.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, topping the Zacks’ 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 Corporation had a return on equity of 25.18% and a net margin of 4.75%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Target Corporation will post $5.20 EPS for the current fiscal year.
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TGT has been the subject of several analyst reports. Zacks Investment Research cut Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Buckingham Research reaffirmed a “buy” rating and set a $85.00 price objective (up from $79.00) on shares of Target Corporation in a research report on Sunday, December 4th. Vetr raised Target Corporation from a “buy” rating to a “strong-buy” rating and set a $81.98 price objective for the company in a research report on Monday. Credit Suisse Group assumed coverage on Target Corporation in a research report on Friday, September 16th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $60.00 price objective on shares of Target Corporation in a research report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Target Corporation currently has a consensus rating of “Hold” and an average price target of $75.50.
In other Target Corporation news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $75.45, for a total value of $298,555.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.
About Target Corporation
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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