Founders Financial Securities LLC Boosts Holdings in Target Co. (NYSE:TGT)

Founders Financial Securities LLC raised its stake in Target Co. (NYSE:TGT) by 118.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,469 shares of the retailer’s stock after acquiring an additional 5,127 shares during the quarter. Founders Financial Securities LLC’s holdings in Target were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Target during the fourth quarter worth about $759,810,000. International Assets Investment Management LLC grew its stake in Target by 15,009.5% in 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 buying an additional 1,745,459 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in 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 acquiring an additional 1,218,204 shares during the period. Clearbridge Investments LLC raised its holdings in 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 acquiring an additional 984,464 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after acquiring an additional 868,274 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Trading Up 0.9 %

Shares of NYSE TGT traded up $1.32 during midday trading on Friday, reaching $148.04. The company had a trading volume of 12,772,526 shares, compared to its average volume of 3,818,235. The firm’s fifty day moving average price is $152.97 and its 200-day moving average price is $153.22. 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 one year low of $102.93 and a one year high of $181.86. The stock has a market cap of $68.49 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share 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 company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Target Co. will post 9.32 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. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.03%. Target’s payout ratio is presently 49.38%.

Analyst Ratings Changes

A number of analysts recently issued reports on TGT shares. BNP Paribas initiated coverage on Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price objective on the stock. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Roth Mkm reaffirmed a “neutral” rating and set a $153.00 target price on shares of Target in a report on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Target in a research note on Wednesday, May 22nd. Finally, Guggenheim boosted their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Target Company 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.