SteelPeak Wealth LLC Acquires 11,103 Shares of Target Co. (NYSE:TGT)

SteelPeak Wealth LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 67.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,635 shares of the retailer’s stock after purchasing an additional 11,103 shares during the period. SteelPeak Wealth LLC’s holdings in Target were worth $4,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of Target by 1.3% in the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after purchasing an additional 70 shares in the last quarter. Godshalk Welsh Capital Management Inc. raised its holdings in Target by 0.9% during the 4th 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 raised its stake in shares of Target by 0.9% during the fourth 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 during the last quarter. Beacon Financial Advisory LLC lifted its holdings in Target by 1.0% in the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock worth $1,005,000 after buying an additional 72 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its stake in Target by 4.1% in the first quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock worth $328,000 after acquiring an additional 73 shares during the period. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson increased their price objective on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BNP Paribas assumed coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price on the stock. Bank of America increased their price target 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. Stifel Nicolaus lifted their price objective on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $177.61.

Target Trading Up 0.9 %

NYSE TGT traded up $1.32 on Friday, hitting $148.04. 12,772,526 shares of the stock were exchanged, compared to its average volume of 3,818,235. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market capitalization of $68.49 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.39 and a beta of 1.20. 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 fifty day moving average price of $152.97 and a two-hundred day moving average price of $153.33.

Target (NYSE:TGT) last issued its quarterly earnings results 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 return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts forecast that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. 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 3.03%. Target’s dividend payout ratio (DPR) is 49.38%.

About Target

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.