Gareth Morgan Investments Limited Partnership boosted its position in shares of Target Corporation (NYSE:TGT) by 15.3% during the first quarter, Holdings Channel reports. The fund owned 51,392 shares of the retailer’s stock after buying an additional 6,834 shares during the period. Gareth Morgan Investments Limited Partnership’s holdings in Target Corporation were worth $2,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in shares of Target Corporation during the first quarter worth approximately $265,000. Atria Investments LLC raised its stake in shares of Target Corporation by 20.2% in the first quarter. Atria Investments LLC now owns 7,760 shares of the retailer’s stock worth $428,000 after buying an additional 1,305 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock worth $442,000 after buying an additional 1,844 shares during the last quarter. Prentiss Smith & Co. Inc. raised its stake in shares of Target Corporation by 20.6% in the first quarter. Prentiss Smith & Co. Inc. now owns 4,677 shares of the retailer’s stock worth $258,000 after buying an additional 800 shares during the last quarter. Finally, Horrell Capital Management Inc. raised its stake in shares of Target Corporation by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the retailer’s stock worth $1,504,000 after buying an additional 100 shares during the last quarter. 82.63% of the stock is owned by institutional investors and hedge funds.

Shares of Target Corporation (NYSE TGT) traded down 3.65% during midday trading on Thursday, reaching $55.76. 4,031,995 shares of the company’s stock were exchanged. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 11.43 and a beta of 0.61. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a 50 day moving average of $53.83 and a 200-day moving average of $56.54. Target Corporation also was the target of unusually large options trading activity on Tuesday. Stock investors acquired 43,644 call options on the stock. This represents an increase of approximately 350% compared to the typical daily volume of 9,688 call options.

Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. On average, equities research analysts anticipate that Target Corporation will post $4.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.

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A number of brokerages have commented on TGT. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a report on Wednesday, May 10th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday. Gordon Haskett began coverage on Target Corporation in a report on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective for the company. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective (up from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $61.99.

In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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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