Target Co. (NYSE:TGT) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Target Co. (NYSE:TGT) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,240 shares of the retailer’s stock after purchasing an additional 6,332 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Target were worth $18,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Target during the 4th quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in shares of Target in the fourth quarter valued at $29,000. Private Wealth Management Group LLC bought a new position in Target during the fourth quarter valued at about $29,000. Scarborough Advisors LLC acquired a new position in Target during the fourth quarter worth about $29,000. Finally, Godsey & Gibb Inc. raised its position in Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 4.1 %

NYSE:TGT traded up $5.52 during mid-day trading on Thursday, reaching $141.28. The stock had a trading volume of 2,331,583 shares, compared to its average volume of 3,875,699. 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 stock has a market cap of $65.36 billion, a P/E ratio of 15.24, a PEG ratio of 1.38 and a beta of 1.19. The business’s 50 day moving average is $145.32 and its 200 day moving average is $154.27. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its quarterly 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). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter last year, the company earned $2.05 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. 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 3.17%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several recent research reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. Royal Bank of Canada cut 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. Wells Fargo & Company decreased their target price on Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer reduced their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

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.