Meeder Asset Management Inc. Has $4.32 Million Stake in Target Co. (TGT)

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Meeder Asset Management Inc. trimmed its holdings in Target Co. (NYSE:TGT) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Phocas Financial Corp. bought a new position in Target in the fourth quarter valued at approximately $25,000. CI Investments Inc. bought a new position in Target in the fourth quarter valued at approximately $27,000. Loeb Partners Corp bought a new position in Target in the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new position in Target in the fourth quarter valued at approximately $32,000. Institutional investors own 83.89% of the company’s stock.

In other news, insider Robert M. Harrison sold 1,791 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the transaction, the insider now owns 12,836 shares in the company, valued at $1,030,474.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathy R. Smith sold 30,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,977 shares of company stock worth $2,774,409. 0.19% of the stock is owned by company insiders.

A number of brokerages recently issued reports on TGT. Evercore ISI began coverage on shares of Target in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price objective on the stock. Gordon Haskett raised shares of Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. BMO Capital Markets boosted their price objective on shares of Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Deutsche Bank boosted their price objective on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.25.

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

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The business had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.05 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. Target’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Equities analysts anticipate that Target Co. will post 5.79 earnings per share for the current fiscal year.

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

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Target Company 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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