Mount Yale Investment Advisors LLC increased its stake in shares of Target Co. (NYSE:TGT – Free Report) by 170.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,187 shares of the retailer’s stock after acquiring an additional 6,424 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Target were worth $1,805,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in TGT. Trueblood Wealth Management LLC bought a new stake in Target during the 4th quarter valued at approximately $240,000. McGlone Suttner Wealth Management Inc. bought a new stake in Target during the 4th quarter valued at approximately $49,000. Global Retirement Partners LLC boosted its stake in Target by 34.0% during the 4th quarter. Global Retirement Partners LLC now owns 17,219 shares of the retailer’s stock valued at $2,429,000 after purchasing an additional 4,368 shares during the period. Precedent Wealth Partners LLC bought a new stake in Target during the 4th quarter valued at approximately $288,000. Finally, Donald L. Hagan LLC bought a new stake in Target during the 4th quarter valued at approximately $1,400,000. Institutional investors and hedge funds own 79.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on TGT shares. Truist Financial reduced their price objective on Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets reduced their price objective on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Royal Bank of Canada reduced their price objective on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Evercore ISI raised their price objective on Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. Finally, BNP Paribas started coverage on Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.57.
Target Price Performance
TGT stock traded down $2.18 during midday trading on Monday, reaching $146.82. 2,376,548 shares of the company’s stock traded hands, compared to its average volume of 3,840,507. The company has a 50-day simple moving average of $147.98 and a two-hundred day simple moving average of $154.48. The company has a market cap of $67.92 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.40 and a beta of 1.19. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. 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 (NYSE:TGT – Get Free Report) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $2.05 earnings per share. On average, analysts anticipate that Target Co. will post 9.31 earnings per share for the current year.
Target Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. 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. Target’s dividend payout ratio (DPR) is 49.38%.
Target Profile
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.