Kelleher Financial Advisors raised its stake in Target Co. (NYSE:TGT – Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,336 shares of the retailer’s stock after purchasing an additional 122 shares during the quarter. Kelleher Financial Advisors’ holdings in Target were worth $440,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. JGP Wealth Management LLC grew its stake in Target by 3.6% in the second quarter. JGP Wealth Management LLC now owns 14,308 shares of the retailer’s stock valued at $1,887,000 after purchasing an additional 493 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Target by 4.1% in the second quarter. Russell Investments Group Ltd. now owns 550,525 shares of the retailer’s stock valued at $72,662,000 after purchasing an additional 21,487 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Target in the second quarter valued at approximately $5,797,000. Westpac Banking Corp grew its stake in Target by 7.9% in the second quarter. Westpac Banking Corp now owns 3,169 shares of the retailer’s stock valued at $418,000 after purchasing an additional 231 shares in the last quarter. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Target in the second quarter valued at approximately $128,000. 78.33% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
TGT has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Target in a research report on Thursday. The Goldman Sachs Group cut their price objective on Target from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, August 17th. Citigroup raised their price objective on Target from $117.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday. Telsey Advisory Group lifted their price target on Target from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley dropped their price target on Target from $155.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 7th. Seventeen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $156.16.
Target Stock Up 0.2 %
TGT stock opened at $130.24 on Friday. The stock’s 50 day simple moving average is $112.67 and its 200 day simple moving average is $127.73. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.18 and a current ratio of 0.86. The company has a market cap of $60.12 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04.
Target (NYSE:TGT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.62. Target had a return on equity of 30.69% and a net margin of 3.40%. The business had revenue of $25 billion for the quarter, compared to the consensus estimate of $25.28 billion. During the same period in the prior year, the business earned $1.54 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts expect that Target Co. will post 7.56 earnings per share for the current fiscal year.
Target Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, November 14th. Target’s dividend payout ratio (DPR) is currently 56.12%.
Target Company 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.
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