Concurrent Investment Advisors LLC Increases Holdings in Target Co. (NYSE:TGT)

Concurrent Investment Advisors LLC increased its stake in Target Co. (NYSE:TGT) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,893 shares of the retailer’s stock after purchasing an additional 1,444 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Target were worth $3,171,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. RFG Advisory LLC purchased a new position in shares of Target in the 4th quarter worth about $605,000. Nordea Investment Management AB boosted its holdings in shares of Target by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock worth $73,819,000 after purchasing an additional 24,066 shares in the last quarter. Asio Capital LLC boosted its holdings in shares of Target by 109.9% in the 4th quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock worth $3,883,000 after purchasing an additional 14,274 shares in the last quarter. Little House Capital LLC purchased a new position in shares of Target in the 1st quarter worth about $1,041,000. Finally, Janney Capital Management LLC purchased a new position in shares of Target in the 1st quarter worth about $13,958,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE:TGT traded down $1.43 on Monday, reaching $151.42. The company’s stock had a trading volume of 2,478,441 shares, compared to its average volume of 3,901,778. The stock’s 50-day moving average is $149.92 and its two-hundred day moving average is $153.86. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The stock has a market capitalization of $70.05 billion, a P/E ratio of 17.16, a PEG ratio of 1.44 and a beta of 1.19.

Target (NYSE:TGT) last issued its quarterly 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). The firm had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, sell-side analysts forecast that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. Target’s dividend payout ratio is presently 49.38%.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. Roth Mkm reissued a “neutral” rating and issued a $153.00 target price on shares of Target in a research note on Thursday, May 23rd. BNP Paribas initiated coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. Jefferies Financial Group boosted their target price on Target from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $190.00 price target on shares of Target in a research report on Thursday, May 23rd. Finally, Evercore ISI upped their price target on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.57.

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.