Target Co. (NYSE:TGT) Shares Acquired by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC boosted its holdings in Target Co. (NYSE:TGT) by 26.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,795 shares of the retailer’s stock after acquiring an additional 796 shares during the period. Premier Path Wealth Partners LLC’s holdings in Target were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new stake in shares of Target during the 2nd quarter worth about $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target during the 4th quarter worth about $28,000. Private Wealth Management Group LLC acquired a new stake in shares of Target during the 4th quarter worth about $29,000. Scarborough Advisors LLC acquired a new stake in shares of Target during the 4th quarter worth about $29,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of Target by 148.6% during the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 1.1 %

Shares of TGT stock traded up $1.68 during mid-day trading on Friday, reaching $158.50. 3,188,295 shares of the company were exchanged, compared to its average volume of 4,059,595. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The company has a market capitalization of $73.33 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.38 and a beta of 1.19. The business’s 50 day simple moving average is $145.94 and its 200 day simple moving average is $154.56.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 earnings per share. Research analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently disclosed 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 represents a $4.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TGT. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday. Jefferies Financial Group raised their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America increased their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday. Finally, BMO Capital Markets cut their price objective on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.52.

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.