Target Co. (TGT) Holdings Cut by Meeder Asset Management Inc.

Meeder Asset Management Inc. trimmed its position in Target Co. (NYSE:TGT) by 6.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 53,844 shares of the retailer’s stock after selling 3,847 shares during the period. Meeder Asset Management Inc.’s holdings in Target were worth $4,320,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. grew its position in Target by 3.2% in the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after purchasing an additional 1,334,425 shares in the last quarter. Vanguard Group Inc grew its position in shares of Target by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock valued at $3,381,221,000 after acquiring an additional 151,096 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Target by 5,697.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock valued at $280,000 after acquiring an additional 18,165,298 shares during the period. Northern Trust Corp grew its position in shares of Target by 1.3% during the 4th quarter. Northern Trust Corp now owns 7,095,898 shares of the retailer’s stock valued at $468,967,000 after acquiring an additional 89,876 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Target by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after acquiring an additional 381,831 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

In other Target news, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the completion of the sale, the insider now owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Insiders have sold a total of 36,977 shares of company stock worth $2,774,409 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Shares of TGT stock opened at $81.97 on Wednesday. The company has a market cap of $42.33 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.53. The company had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. Target’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. As a group, research analysts forecast that Target Co. will post 5.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is currently 47.50%.

A number of research firms have recently weighed in on TGT. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, March 8th. Deutsche Bank increased their target price on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Citigroup reissued a “neutral” rating and set a $78.00 target price on shares of Target in a research report on Tuesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $86.00 target price (down from $100.00) on shares of Target in a research report on Monday, January 7th. Finally, Tigress Financial reissued a “buy” rating on shares of Target in a research report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.25.

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Target Profile

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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