Accredited Investors Inc. Raises Stake in Target Co. (NYSE:TGT)

Accredited Investors Inc. raised its holdings in Target Co. (NYSE:TGT) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,979 shares of the retailer’s stock after purchasing an additional 2,173 shares during the quarter. Accredited Investors Inc.’s holdings in Target were worth $1,773,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Target in the 4th quarter valued at $759,810,000. Boston Partners purchased a new position in Target during the first quarter worth about $335,870,000. International Assets Investment Management LLC lifted its position in Target by 15,009.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Target by 51,357.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Target by 58.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock worth $382,145,000 after purchasing an additional 984,464 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.4 %

Shares of TGT stock traded up $0.56 during trading hours on Monday, hitting $144.60. 4,422,931 shares of the company were exchanged, compared to its average volume of 3,891,123. The firm has a fifty day moving average of $145.13 and a 200 day moving average of $154.41. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The firm has a market cap of $66.90 billion, a PE ratio of 16.23, a PEG ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business earned $2.05 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is currently 50.28%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TGT shares. Wells Fargo & Company decreased their price target on Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm reiterated a “neutral” rating and issued a $153.00 price target on shares of Target in a report on Thursday, May 23rd. Royal Bank of Canada decreased their price objective on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of Target from $165.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Finally, UBS Group lowered their price target on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.57.

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.