PSI Advisors LLC Grows Position in Target Co. (NYSE:TGT)

PSI Advisors LLC grew its position in Target Co. (NYSE:TGT) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,489 shares of the retailer’s stock after acquiring an additional 152 shares during the quarter. PSI Advisors LLC’s holdings in Target were worth $960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Vanguard Group Inc. boosted its position in Target by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after buying an additional 417,818 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares in the last quarter. Franklin Resources Inc. lifted its stake in Target by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after acquiring an additional 137,180 shares during the last quarter. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth approximately $759,810,000. Finally, Clearbridge Investments LLC raised its position in Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after purchasing an additional 470,647 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Citigroup lifted their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group increased their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen boosted their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Roth Mkm boosted their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $177.89.

Target Price Performance

TGT stock traded down $2.32 during midday trading on Thursday, hitting $156.93. 7,451,376 shares of the stock were exchanged, compared to its average volume of 4,062,434. The stock’s 50-day moving average price is $145.60 and its 200-day moving average price is $154.45. 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 market cap of $72.60 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.38 and a beta of 1.19. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. Research analysts predict 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 issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.85%. 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. Target’s dividend payout ratio (DPR) is presently 50.28%.

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.