Wealth Enhancement Advisory Services LLC Boosts Stock Position in Target Co. (NYSE:TGT)

Wealth Enhancement Advisory Services LLC boosted its position in Target Co. (NYSE:TGT) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,982 shares of the retailer’s stock after purchasing an additional 5,309 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Target were worth $26,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the 4th quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new position in shares of Target in the fourth quarter worth $29,000. Rakuten Securities Inc. bought a new position in Target during the fourth quarter valued at about $29,000. Scarborough Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Target in the 1st quarter valued at approximately $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE:TGT traded down $0.43 during mid-day trading on Thursday, hitting $146.74. 2,273,199 shares of the company traded hands, compared to its average volume of 3,877,344. The company has a quick ratio of 0.27, a current ratio of 0.86 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 firm has a market cap of $67.89 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. The stock’s fifty day moving average price is $153.77 and its 200-day moving average price is $153.06.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the prior year, the company posted $2.05 EPS. Target’s revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 3.05%. This is an increase from Target’s previous quarterly dividend of $1.10. 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

A number of research firms have recently issued reports on TGT. Stifel Nicolaus increased their price target on shares of Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Robert W. Baird restated an “outperform” rating and set a $190.00 price target on shares of Target in a report on Thursday, May 23rd. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. HSBC raised Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $195.00 in a research note on Wednesday, March 6th. Finally, Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.