Harbour Investments Inc. Purchases 1,496 Shares of Target Co. (NYSE:TGT)

Harbour Investments Inc. raised its stake in Target Co. (NYSE:TGT) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,140 shares of the retailer’s stock after acquiring an additional 1,496 shares during the period. Harbour Investments Inc.’s holdings in Target were worth $1,057,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter worth about $25,000. Ables Iannone Moore & Associates Inc. bought a new position in Target in the fourth quarter worth approximately $28,000. Private Wealth Management Group LLC bought a new position in shares of Target in the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC bought a new position in shares of Target in the fourth quarter valued at approximately $29,000. Finally, Godsey & Gibb Inc. increased its position 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 buying an additional 104 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.2 %

Shares of TGT traded down $1.87 during trading hours on Wednesday, hitting $156.81. The company had a trading volume of 1,159,501 shares, compared to its average volume of 4,034,674. The company has a market capitalization of $72.55 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. 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 Co. has a one year low of $102.93 and a one year high of $181.86. The company’s fifty day moving average price is $146.22 and its two-hundred day moving average price is $154.77.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 earnings per share. As a group, equities analysts forecast that Target Co. will post 9.31 earnings per share for the current fiscal 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 issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research analyst reports. Citigroup upped their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Royal Bank of Canada boosted their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.18.

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.