Trade Report: The RDL Financial Inc. Takes Position in Target Corp. (TGT)

The RDL Financial Inc. Takes Position in Target Corp. (TGT)

RDL Financial Inc. acquired a new position in Target Corp. (NYSE:TGT) during the second quarter, Holdings Channel reports. The firm acquired 4,509 shares of the retailer’s stock, valued at approximately $315,000.

A number of other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in Target Corp. by 4.1% in the first quarter. Lazard Asset Management LLC now owns 56,296 shares of the retailer’s stock valued at $4,631,000 after buying an additional 2,220 shares during the last quarter. AXA increased its stake in Target Corp. by 22.0% in the first quarter. AXA now owns 220,380 shares of the retailer’s stock valued at $18,133,000 after buying an additional 39,700 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock valued at $178,000 after buying an additional 797 shares during the last quarter. Prudential PLC increased its stake in Target Corp. by 10.8% in the first quarter. Prudential PLC now owns 88,968 shares of the retailer’s stock valued at $7,320,000 after buying an additional 8,642 shares during the last quarter. Finally, Mariner Wealth Advisors LLC increased its stake in Target Corp. by 0.9% in the first quarter. Mariner Wealth Advisors LLC now owns 6,472 shares of the retailer’s stock valued at $533,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Target Corp. (NYSE:TGT) traded up 1.79% on Friday, reaching $68.83. 4,114,513 shares of the company’s stock traded hands. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 12.74 and a beta of 0.68. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14. The stock’s 50 day moving average is $68.36 and its 200 day moving average is $72.01.

Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. The company had revenue of $16.20 billion for the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. During the same period last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts predict that Target Corp. will post $4.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.

Several equities research analysts have recently weighed in on TGT shares. Jefferies Group reissued a “hold” rating and issued a $72.00 target price on shares of Target Corp. in a research report on Thursday, August 18th. Zacks Investment Research downgraded shares of Target Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Argus reissued a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Nomura set a $75.00 target price on shares of Target Corp. and gave the stock a “hold” rating in a research report on Friday, October 7th. Finally, Vetr downgraded shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $74.42 target price for the company. in a research report on Monday, September 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. Target Corp. presently has an average rating of “Hold” and an average target price of $74.49.

About Target Corp.

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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