Dakota Wealth Management Buys 2,928 Shares of Target Co. (NYSE:TGT)

Dakota Wealth Management raised its stake in Target Co. (NYSE:TGT) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,393 shares of the retailer’s stock after buying an additional 2,928 shares during the period. Dakota Wealth Management’s holdings in Target were worth $5,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TGT. Norges Bank bought a new stake in shares of Target during the 4th quarter valued at about $759,810,000. Boston Partners bought a new stake in shares of Target during the 1st quarter valued at about $335,870,000. International Assets Investment Management LLC boosted its position in shares of Target by 15,009.5% during the 4th 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 in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Target by 51,357.7% during 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 boosted its position in shares of Target by 58.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after purchasing an additional 984,464 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT traded down $1.59 during trading hours on Tuesday, reaching $143.04. The stock had a trading volume of 2,514,551 shares, compared to its average volume of 3,882,557. 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 stock has a 50 day simple moving average of $145.13 and a 200 day simple moving average of $154.41. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The stock has a market cap of $66.18 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19.

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 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 firm had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business earned $2.05 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts forecast that Target Co. will post 9.31 EPS for the current fiscal 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 $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 50.28%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 price target on shares of Target in a report on Thursday, May 23rd. Roth Mkm reiterated a “neutral” rating and issued a $153.00 price target on shares of Target in a report on Thursday, May 23rd. Wells Fargo & Company cut their price target on Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on Target from $165.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.