Lynx Investment Advisory Takes Position in Target Co. (NYSE:TGT)

Lynx Investment Advisory acquired a new stake in Target Co. (NYSE:TGT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 423 shares of the retailer’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Godsey & Gibb Inc. lifted its stake in Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Retirement Group LLC lifted its holdings in shares of Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Target during the 4th quarter worth $28,000. Finally, Private Wealth Management Group LLC bought a new stake in Target in the fourth quarter valued at $29,000. 79.73% of the stock is owned by institutional investors.

Target Stock Up 1.0 %

TGT stock traded up $1.28 during mid-day trading on Wednesday, hitting $135.13. The stock had a trading volume of 1,419,324 shares, compared to its average volume of 3,873,096. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a fifty day moving average of $147.21 and a 200 day moving average of $154.62. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $62.52 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last issued 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). The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. On average, equities analysts expect that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 3.32%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is presently 50.28%.

Analyst Ratings Changes

A number of analysts recently weighed in on TGT shares. Truist Financial increased their price objective on shares of Target from $153.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on Target from $165.00 to $153.00 and set a “neutral” rating for the company in a report on Monday. UBS Group decreased their price target on Target from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. BNP Paribas initiated coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus target price of $175.46.

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.