Ropes Wealth Advisors LLC lifted its stake in Target Co. (NYSE:TGT) by 36.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,125 shares of the retailer’s stock after purchasing an additional 300 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Target were worth $97,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Target during the first quarter worth $30,000. Icon Wealth Partners LLC acquired a new stake in Target during the first quarter worth $31,000. Larson Financial Group LLC acquired a new stake in Target during the second quarter worth $31,000. Finally, C J Advisory Inc acquired a new stake in Target during the first quarter worth $33,000. 83.09% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Deutsche Bank raised Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $99.00 in a research note on Monday, August 5th. Telsey Advisory Group reissued an “outperform” rating and set a $92.00 target price (up previously from $88.00) on shares of Target in a research note on Thursday, April 18th. Citigroup raised their target price on Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Morgan Stanley raised Target from an “underweight” rating to an “equal weight” rating and set a $67.00 target price for the company in a research note on Monday, May 20th. Finally, UBS Group raised their price target on Target from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $90.52.
NYSE:TGT traded up $0.12 during midday trading on Wednesday, reaching $82.15. The company had a trading volume of 2,694,519 shares, compared to its average volume of 5,020,433. The firm has a market cap of $42.03 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.61. The business’s fifty day simple moving average is $86.16. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. Target’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 EPS. As a group, equities research analysts predict that Target Co. will post 5.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.21%. This is an increase from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s payout ratio is 47.50%.
In other Target news, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total transaction of $1,055,801.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janna A. Potts sold 8,759 shares of Target stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the sale, the insider now directly owns 27,720 shares of the company’s stock, valued at $2,189,880. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock valued at $2,854,650 over the last ninety days. 0.24% of the stock is owned by company insiders.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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