MJP Associates Inc. ADV Boosts Stake in Target Co. (NYSE:TGT)

MJP Associates Inc. ADV raised its stake in Target Co. (NYSE:TGT) by 37.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,966 shares of the retailer’s stock after buying an additional 1,081 shares during the period. MJP Associates Inc. ADV’s holdings in Target were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target during the fourth quarter valued at about $28,000. Rakuten Securities Inc. purchased a new stake in Target during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new stake in Target during the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC acquired a new stake in Target in the fourth quarter valued at approximately $29,000. Finally, Godsey & Gibb Inc. grew its holdings in Target by 148.6% in 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. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TGT shares. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Wednesday, May 22nd. Royal Bank of Canada reduced their price target on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Target from $165.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Target from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.46.

Target Trading Up 1.1 %

TGT traded up $1.53 on Friday, hitting $135.50. The company had a trading volume of 3,778,303 shares, compared to its average volume of 3,882,848. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The firm has a market cap of $62.69 billion, a P/E ratio of 15.21, a PEG ratio of 1.38 and a beta of 1.19. The company’s fifty day moving average price is $146.19 and its 200 day moving average price is $154.49. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

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 business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, equities analysts expect that Target Co. will post 9.31 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. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is 50.28%.

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.