MJP Associates Inc. ADV Acquires 1,081 Shares of Target Co. (NYSE:TGT)

MJP Associates Inc. ADV grew its holdings in Target Co. (NYSE:TGT) by 37.5% during the second quarter, Holdings Channel.com reports. The firm owned 3,966 shares of the retailer’s stock after acquiring an additional 1,081 shares during the period. MJP Associates Inc. ADV’s holdings in Target were worth $587,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Austin Private Wealth LLC grew its stake in shares of Target by 13.8% during the second quarter. Austin Private Wealth LLC now owns 1,998 shares of the retailer’s stock valued at $296,000 after purchasing an additional 242 shares during the last quarter. Jacobs & Co. CA boosted its position in Target by 2.5% in the 2nd quarter. Jacobs & Co. CA now owns 20,078 shares of the retailer’s stock valued at $2,972,000 after buying an additional 490 shares during the last quarter. Allied Investment Advisors LLC increased its stake in shares of Target by 2.3% in the 2nd quarter. Allied Investment Advisors LLC now owns 57,904 shares of the retailer’s stock valued at $8,572,000 after buying an additional 1,285 shares during the period. JGP Wealth Management LLC raised its position in shares of Target by 1.1% during the second quarter. JGP Wealth Management LLC now owns 16,193 shares of the retailer’s stock worth $2,397,000 after acquiring an additional 181 shares during the last quarter. Finally, Gleason Group Inc. lifted its stake in shares of Target by 1.1% during the second quarter. Gleason Group Inc. now owns 7,363 shares of the retailer’s stock valued at $1,090,000 after acquiring an additional 78 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of a number of research reports. Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. BNP Paribas initiated coverage on shares of Target in a report on Monday, June 3rd. They set an “underperform” rating and a $116.00 target price for the company. Truist Financial increased their price target on Target from $153.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reduced their price target 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.46.

Target Stock Up 1.1 %

Target stock traded up $1.53 during midday trading on Friday, reaching $135.50. The stock had a trading volume of 3,778,303 shares, compared to its average volume of 3,882,848. The firm’s fifty day simple moving average is $146.19 and its 200-day simple moving average is $154.49. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The stock has a market capitalization of $62.69 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. 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 posted its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (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 analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. As a group, analysts expect that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is currently 50.28%.

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.