Target Co. (NYSE:TGT) Stock Holdings Lifted by Optas LLC

Optas LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 10.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,782 shares of the retailer’s stock after buying an additional 264 shares during the period. Optas LLC’s holdings in Target were worth $493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Target by 1.3% in the 4th quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock worth $760,000 after acquiring an additional 70 shares during the period. Godshalk Welsh Capital Management Inc. raised its holdings in shares of Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after buying an additional 70 shares during the last quarter. Welch & Forbes LLC increased its position in Target by 0.9% in the 4th quarter. Welch & Forbes LLC now owns 7,715 shares of the retailer’s stock valued at $1,099,000 after acquiring an additional 71 shares in the last quarter. Beacon Financial Advisory LLC grew its stake in shares of Target by 1.0% during the fourth quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after purchasing an additional 72 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its holdings in Target by 4.1% during the 1st quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock worth $328,000 after buying an additional 73 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 0.9 %

Shares of TGT traded up $1.32 on Friday, reaching $148.04. The stock had a trading volume of 12,772,526 shares, compared to its average volume of 3,818,235. The firm has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. The company has a 50-day simple moving average of $152.97 and a 200-day simple moving average of $153.33. Target Co. has a 12-month low of $102.93 and a 12-month 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.

Target (NYSE:TGT) last released 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 net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.03%. 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 dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Stifel Nicolaus boosted their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. DA Davidson upped their target price on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Guggenheim lifted their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.61.

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.