MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Boosts Holdings in Target Co. (NYSE:TGT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Target Co. (NYSE:TGT - Free Report) by 498.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,993 shares of the retailer's stock after buying an additional 34,973 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Target were worth $4,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter worth about $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter worth about $29,000. Legacy Investment Solutions LLC raised its stake in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Target in the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Target in the fourth quarter valued at approximately $40,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 4.1%

NYSE:TGT traded down $4.04 during trading hours on Friday, hitting $95.25. The company had a trading volume of 7,297,011 shares, compared to its average volume of 6,130,221. The company has a market capitalization of $43.28 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The stock has a 50-day moving average price of $95.48 and a 200 day moving average price of $115.13. Target Co. has a 52 week low of $87.35 and a 52 week high of $167.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. On average, equities research analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.70%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is currently 50.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TGT shares. Bank of America downgraded shares of Target from a "buy" rating to a "neutral" rating and lowered their target price for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Guggenheim reduced their price target on shares of Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group reduced their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Baird R W cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and an average target price of $116.70.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider now owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company's stock.

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.