Meeder Asset Management Inc. Purchases 50,600 Shares of Target Co. (NYSE:TGT)

Meeder Asset Management Inc. lifted its position in shares of Target Co. (NYSE:TGT) by 169.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,472 shares of the retailer’s stock after acquiring an additional 50,600 shares during the quarter. Target makes up about 0.8% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Meeder Asset Management Inc.’s holdings in Target were worth $10,878,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TGT. Kathmere Capital Management LLC lifted its position in Target by 3.0% during the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock valued at $343,000 after purchasing an additional 73 shares during the period. Horrell Capital Management Inc. lifted its holdings in Target by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after buying an additional 76 shares during the period. First PREMIER Bank boosted its stake in Target by 21.9% in the fourth quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after acquiring an additional 80 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Target by 34.5% during the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock worth $43,000 after acquiring an additional 82 shares during the period. Finally, CENTRAL TRUST Co raised its position in shares of Target by 0.4% during the 4th quarter. CENTRAL TRUST Co now owns 18,593 shares of the retailer’s stock valued at $2,513,000 after acquiring an additional 82 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Down 2.7 %

NYSE TGT opened at $103.63 on Monday. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $122.96 and a 200-day moving average of $136.39. The company has a market cap of $47.21 billion, a PE ratio of 10.99, a PEG ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.32%. Target’s dividend payout ratio is 50.56%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Piper Sandler decreased their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Guggenheim increased their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. DA Davidson decreased their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price objective on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $143.40.

Target Profile

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.