Bahl & Gaynor Inc. increased its stake in shares of Target Corporation (NYSE:TGT) by 112.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,649,791 shares of the retailer’s stock after purchasing an additional 871,901 shares during the quarter. Target Corporation accounts for approximately 1.5% of Bahl & Gaynor Inc.’s holdings, making the stock its 26th biggest position. Bahl & Gaynor Inc. owned approximately 0.30% of Target Corporation worth $119,165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Boston Private Wealth LLC raised its position in Target Corporation by 4.5% during the 2nd quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after buying an additional 2,285 shares during the last quarter. Conning Inc. raised its holdings in Target Corporation by 2.1% during the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after purchasing an additional 10,966 shares in the last quarter. First Trust Advisors LP raised its holdings in Target Corporation by 33.8% during the first quarter. First Trust Advisors LP now owns 804,427 shares of the retailer’s stock worth $44,396,000 after purchasing an additional 203,248 shares in the last quarter. Boston Partners purchased a new position in Target Corporation during the first quarter worth about $392,000. Finally, Patten & Patten Inc. TN purchased a new position in Target Corporation during the second quarter worth about $234,000. 83.22% of the stock is owned by hedge funds and other institutional investors.

TGT has been the subject of a number of recent analyst reports. UBS AG restated a “neutral” rating and issued a $56.00 price objective (down previously from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. BidaskClub lowered Target Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price objective for the company. in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. Finally, Gordon Haskett raised Target Corporation from a “sell” rating to a “hold” rating and raised their target price for the company from $47.00 to $58.00 in a report on Wednesday, August 16th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $61.64.

Shares of Target Corporation (TGT) opened at 59.01 on Monday. The stock has a 50 day moving average price of $56.82 and a 200 day moving average price of $55.00. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock has a market cap of $32.23 billion, a P/E ratio of 11.92 and a beta of 0.62.

Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same period in the prior year, the company posted $1.23 earnings per share. Target Corporation’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts anticipate that Target Corporation will post $4.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio is 50.00%.

In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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About Target Corporation

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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