Wealthcare Advisory Partners LLC Increases Stake in Target Co. (NYSE:TGT)

Wealthcare Advisory Partners LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,236 shares of the retailer’s stock after buying an additional 532 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Target were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in Target during the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new stake in Target during the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new stake in Target during the fourth quarter worth about $29,000. Scarborough Advisors LLC bought a new stake in Target during the fourth quarter worth about $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Target during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.3 %

Shares of TGT opened at $146.74 on Friday. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a 50-day moving average of $153.77 and a 200 day moving average of $153.06. The firm has a market capitalization of $67.89 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.38 and a beta of 1.20. 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 quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is 49.38%.

Analyst Upgrades and Downgrades

TGT has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets dropped their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Evercore ISI upped their target price on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Finally, Bank of America upped their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One 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 company. According to MarketBeat, Target currently has a consensus 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.