Covestor Ltd Has $62,000 Stock Position in Target Co. (NYSE:TGT)

Covestor Ltd boosted its position in Target Co. (NYSE:TGT) by 43.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352 shares of the retailer’s stock after purchasing an additional 107 shares during the period. Covestor Ltd’s holdings in Target were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Catalytic Wealth RIA LLC acquired a new stake in shares of Target in the first quarter valued at about $248,000. Jacobi Capital Management LLC increased its stake in shares of Target by 1.8% in the first quarter. Jacobi Capital Management LLC now owns 26,090 shares of the retailer’s stock valued at $4,623,000 after buying an additional 463 shares during the period. Edgestream Partners L.P. increased its stake in shares of Target by 146.7% in the first quarter. Edgestream Partners L.P. now owns 9,729 shares of the retailer’s stock valued at $1,724,000 after buying an additional 5,785 shares during the period. Patten & Patten Inc. TN increased its stake in shares of Target by 6.4% in the first quarter. Patten & Patten Inc. TN now owns 9,837 shares of the retailer’s stock valued at $1,743,000 after buying an additional 594 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Target by 38.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 29,950 shares of the retailer’s stock valued at $5,307,000 after buying an additional 8,330 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $146.45 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.41 and a beta of 1.19. The business’s fifty day moving average is $148.49 and its 200 day moving average is $154.34.

Target (NYSE:TGT) last released its quarterly earnings data 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 net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.06%. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TGT. UBS Group cut their target price on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Roth Mkm restated a “neutral” rating and set a $153.00 target price on shares of Target in a research report on Thursday, May 23rd. Evercore ISI upped their target price on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, May 7th. Finally, Morgan Stanley cut their price target on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.57.

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.