Koshinski Asset Management Inc. grew its holdings in Target Co. (NYSE:TGT) by 47.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,158 shares of the retailer’s stock after purchasing an additional 1,331 shares during the period. Koshinski Asset Management Inc.’s holdings in Target were worth $499,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. IBM Retirement Fund increased its stake in Target by 47.3% in the 1st quarter. IBM Retirement Fund now owns 13,564 shares of the retailer’s stock valued at $1,261,000 after buying an additional 4,357 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Target in the first quarter valued at about $9,378,000. First Trust Advisors LP increased its position in shares of Target by 1,078.6% in the second quarter. First Trust Advisors LP now owns 1,383,804 shares of the retailer’s stock valued at $165,960,000 after acquiring an additional 1,266,392 shares during the last quarter. CWM LLC raised its holdings in Target by 39.5% during the second quarter. CWM LLC now owns 278,582 shares of the retailer’s stock worth $33,410,000 after acquiring an additional 78,910 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Target by 353.4% during the fourth quarter. Macquarie Group Ltd. now owns 176,983 shares of the retailer’s stock valued at $22,691,000 after purchasing an additional 137,949 shares during the last quarter. 80.99% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the company. Nomura dropped their price objective on Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Morgan Stanley increased their price target on shares of Target from $105.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Nomura Instinet lifted their price objective on shares of Target from $121.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Deutsche Bank upped their target price on shares of Target from $121.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Stifel Nicolaus lifted their price target on Target from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $128.08.
NYSE:TGT opened at $125.88 on Friday. Target Co. has a 52 week low of $80.03 and a 52 week high of $130.24. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.01. The firm’s 50-day simple moving average is $119.96 and its 200 day simple moving average is $113.35. The firm has a market cap of $62.94 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 4.20 and a beta of 0.79.
Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.19. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm had revenue of $19.37 billion for the quarter, compared to analyst estimates of $19.04 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Target Co. will post 4.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, August 18th. This is a boost from Target’s previous quarterly dividend of $0.66. This represents a $2.72 annualized dividend and a yield of 2.16%. Target’s payout ratio is currently 41.31%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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