Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in Target Corporation (NYSE:TGT) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,939 shares of the retailer’s stock after selling 12,120 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Target Corporation were worth $4,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after buying an additional 1,279,077 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Target Corporation by 1.6% in the first quarter. Morgan Stanley now owns 6,716,718 shares of the retailer’s stock worth $370,696,000 after buying an additional 107,163 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Target Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 6,035,990 shares of the retailer’s stock worth $332,703,000 after buying an additional 494,836 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Shares of Target Corporation (NYSE TGT) opened at 56.22 on Tuesday. The company has a market cap of $30.71 billion, a PE ratio of 11.36 and a beta of 0.60. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The company has a 50-day moving average of $55.62 and a 200 day moving average of $55.51.

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

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.41%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.

In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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TGT has been the topic of a number of research reports. BidaskClub downgraded shares of Target Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Gordon Haskett initiated coverage on shares of Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price objective on the stock. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $59.00 price objective on shares of Target Corporation in a report on Tuesday, June 20th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $61.64.

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.

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

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