Farmers & Merchants Investments Inc. Buys 200 Shares of Target Co. (NYSE:TGT)

Farmers & Merchants Investments Inc. lifted its holdings in Target Co. (NYSE:TGT) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,659 shares of the retailer’s stock after acquiring an additional 200 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Target were worth $10,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tributary Capital Management LLC acquired a new position in shares of Target in the 1st quarter worth approximately $115,000. Steele Capital Management Inc. acquired a new position in Target during the 1st quarter worth $218,000. Dominguez Wealth Management Solutions Inc. lifted its holdings in Target by 2.4% during the 1st quarter. Dominguez Wealth Management Solutions Inc. now owns 14,511 shares of the retailer’s stock worth $2,572,000 after buying an additional 341 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in Target by 17.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,117 shares of the retailer’s stock worth $552,000 after buying an additional 472 shares in the last quarter. Finally, Little House Capital LLC acquired a new position in Target during the 1st quarter worth $1,041,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

NYSE:TGT traded down $0.39 during mid-day trading on Tuesday, hitting $145.35. The stock had a trading volume of 1,185,961 shares, compared to its average volume of 3,916,755. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market cap of $67.24 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.39 and a beta of 1.19. The company’s 50 day simple moving average is $152.97 and its 200 day simple moving average is $153.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.08%. Target’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TheStreet raised Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Guggenheim increased their price target on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Truist Financial cut their price target on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. BNP Paribas assumed coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Target presently has an average rating of “Moderate Buy” and a consensus price target of $177.61.

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.