Meeder Asset Management Inc. Has $10.88 Million Holdings in Target Co. (NYSE:TGT)

Meeder Asset Management Inc. grew its position in Target Co. (NYSE:TGT) by 169.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,472 shares of the retailer’s stock after purchasing an additional 50,600 shares during the quarter. Target comprises approximately 0.8% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position. Meeder Asset Management Inc.’s holdings in Target were worth $10,878,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TGT. Nicholas Company Inc. boosted its holdings in Target by 20.5% in the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares during the period. River Road Asset Management LLC boosted its stake in shares of Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after buying an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Target during the fourth quarter worth approximately $6,459,000. Wilmington Savings Fund Society FSB increased its stake in Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after acquiring an additional 3,590 shares during the period. Finally, Northeast Financial Group Inc. acquired a new position in Target in the 4th quarter valued at $1,566,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 2.7 %

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

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

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued 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 payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TGT shares. Truist Financial reduced their target price on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $143.40.

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.