Prosperity Consulting Group LLC Raises Stock Holdings in Target Co. (NYSE:TGT)

Prosperity Consulting Group LLC grew its stake in Target Co. (NYSE:TGT) by 61.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,277 shares of the retailer’s stock after acquiring an additional 1,243 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Target were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target in the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new stake in shares of Target in the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Target in the fourth quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at $29,000. Finally, Godsey & Gibb Inc. lifted its position in shares of Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on TGT shares. Gordon Haskett increased their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Roth Mkm reiterated a “neutral” rating and set a $153.00 target price on shares of Target in a research report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $190.00 target price on shares of Target in a research report on Thursday, May 23rd. Truist Financial reduced their target price on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada reduced their target price on Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.61.

Target Stock Performance

TGT stock traded up $0.85 during trading on Friday, reaching $145.65. 3,562,244 shares of the company’s stock were exchanged, compared to its average volume of 3,496,491. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company’s fifty day moving average price is $150.93 and its 200-day moving average price is $153.34. The firm has a market cap of $67.38 billion, a PE ratio of 16.35, a P/E/G ratio of 1.36 and a beta of 1.19.

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

Target Increases Dividend

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

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.