OLD National Bancorp IN Has $13.27 Million Holdings in Target Co. (NYSE:TGT)

OLD National Bancorp IN cut its position in Target Co. (NYSE:TGT) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,636 shares of the retailer’s stock after selling 76 shares during the period. OLD National Bancorp IN’s holdings in Target were worth $13,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Target in the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new position in shares of Target in the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new position in shares of Target in the fourth quarter worth about $29,000. Scarborough Advisors LLC bought a new position in shares of Target in the fourth quarter worth about $29,000. Finally, Godsey & Gibb Inc. raised its stake in shares of Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 1.1 %

Shares of Target stock traded up $1.53 on Friday, hitting $135.50. The company had a trading volume of 3,390,733 shares, compared to its average volume of 3,882,848. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a 50-day moving average of $146.60 and a 200-day moving average of $154.33. The firm has a market capitalization of $62.69 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.31%. Target’s dividend payout ratio is presently 50.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Target from $165.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. Royal Bank of Canada dropped their price target on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Wells Fargo & Company dropped their price target on shares of Target from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, UBS Group dropped their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.46.

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.