Target Co. (NYSE:TGT) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in shares of Target Co. (NYSE:TGT) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,439 shares of the retailer’s stock after selling 3,672 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Target were worth $4,331,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Woodmont Investment Counsel LLC grew its stake in shares of Target by 637.4% in the 1st quarter. Woodmont Investment Counsel LLC now owns 12,705 shares of the retailer’s stock worth $2,251,000 after purchasing an additional 10,982 shares during the last quarter. Westhampton Capital LLC purchased a new position in shares of Target in the first quarter worth approximately $204,000. Farmers & Merchants Investments Inc. increased its position in shares of Target by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 58,659 shares of the retailer’s stock worth $10,395,000 after acquiring an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of Target in the first quarter worth approximately $115,000. Finally, Steele Capital Management Inc. purchased a new position in shares of Target in the first quarter worth approximately $218,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TGT shares. Barclays lifted their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Morgan Stanley decreased their price target on shares of Target from $190.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. HSBC upgraded shares of Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $195.00 in a report on Wednesday, March 6th. Wells Fargo & Company raised their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Robert W. Baird restated an “outperform” rating and set a $190.00 price target on shares of Target in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $177.61.

Target Stock Performance

TGT stock traded down $0.35 on Tuesday, reaching $145.39. 3,234,893 shares of the company were exchanged, compared to its average volume of 3,933,017. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm has a market capitalization of $67.26 billion, a PE ratio of 16.30, a PEG ratio of 1.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The stock’s fifty day moving average price is $152.54 and its 200 day moving average price is $153.36.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is 49.38%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.