DLK Investment Management LLC Boosts Stock Position in Target Co. (NYSE:TGT)

DLK Investment Management LLC grew its position in Target Co. (NYSE:TGT) by 14.2% in the first quarter, Holdings Channel.com reports. The fund owned 20,711 shares of the retailer’s stock after buying an additional 2,575 shares during the period. DLK Investment Management LLC’s holdings in Target were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Community Bank of Raymore bought a new stake in shares of Target in the 1st quarter valued at approximately $429,000. Riverview Trust Co boosted its position in Target by 1.6% during the 1st quarter. Riverview Trust Co now owns 7,746 shares of the retailer’s stock worth $1,373,000 after acquiring an additional 125 shares during the period. Annex Advisory Services LLC acquired a new stake in shares of Target in the first quarter valued at $200,000. Austin Private Wealth LLC lifted its holdings in shares of Target by 12.3% in the first quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock valued at $308,000 after buying an additional 193 shares during the period. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Target by 81.5% in the first quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock valued at $334,000 after buying an additional 847 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 0.3 %

TGT stock traded down $0.47 during mid-day trading on Wednesday, hitting $146.30. The stock had a trading volume of 559,906 shares, compared to its average volume of 3,875,025. 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 1-year low of $102.93 and a 1-year high of $181.86. The company has a fifty day moving average of $154.11 and a 200 day moving average of $153.11. The stock has a market capitalization of $67.68 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.41 and a beta of 1.20.

Target (NYSE:TGT) last issued its earnings results 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). Target had a return on equity of 31.91% and a net margin of 3.87%. The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts expect that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company 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 $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio is presently 49.38%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Tigress Financial upped their price objective on Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Roth Mkm restated a “neutral” rating and issued a $153.00 price objective on shares of Target in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price objective on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada cut their target price on Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Target 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.