QRG Capital Management Inc. Has $10.11 Million Position in Target Co. (NYSE:TGT)

QRG Capital Management Inc. lifted its stake in shares of Target Co. (NYSE:TGT) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 68,297 shares of the retailer’s stock after buying an additional 2,739 shares during the quarter. QRG Capital Management Inc.’s holdings in Target were worth $10,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Godsey & Gibb Inc. lifted its position in Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Retirement Group LLC lifted its position in Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Target in the fourth quarter valued at approximately $28,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Target during the 4th quarter worth $29,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating 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. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, May 7th. Piper Sandler started coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. Finally, Morgan Stanley reduced their price objective on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus price target of $175.46.

Target Stock Up 1.1 %

Target stock traded up $1.53 during trading on Friday, hitting $135.50. 3,778,303 shares of the company were exchanged, compared to its average volume of 3,882,848. The company has a market capitalization of $62.69 billion, a P/E ratio of 15.21, a PEG ratio of 1.38 and a beta of 1.19. The business’s 50 day moving average is $146.19 and its 200 day moving average is $154.39. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $2.05 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. 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 yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is 50.28%.

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.