BKM Wealth Management LLC Has $1.27 Million Stock Position in Target Co. (NYSE:TGT)

BKM Wealth Management LLC boosted its holdings in Target Co. (NYSE:TGT) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,178 shares of the retailer’s stock after purchasing an additional 561 shares during the quarter. BKM Wealth Management LLC’s holdings in Target were worth $1,272,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TGT. Norges Bank bought a new stake in Target in the fourth quarter worth approximately $759,810,000. International Assets Investment Management LLC increased its holdings in shares of Target by 15,009.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after acquiring an additional 1,745,459 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Target by 51,357.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after acquiring an additional 1,218,204 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Target by 58.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after acquiring an additional 984,464 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Target by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after acquiring an additional 868,274 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TGT has been the subject of several recent research reports. HSBC upgraded Target from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Jefferies Financial Group upped their price target on Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. BMO Capital Markets decreased their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. BNP Paribas began coverage on Target in a report on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target for the company. Finally, Truist Financial decreased their price target on Target from $160.00 to $153.00 and set a “hold” rating for the company in a report on Thursday, May 23rd. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.61.

Target Stock Down 1.5 %

TGT stock traded down $2.22 on Monday, reaching $145.82. 750,076 shares of the company traded hands, compared to its average volume of 3,923,492. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The company has a market cap of $67.46 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The firm has a fifty day simple moving average of $152.97 and a 200-day simple moving average of $153.33.

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

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.07%. Target’s dividend payout ratio (DPR) is presently 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.