Wealth Enhancement Advisory Services LLC Has $26.58 Million Stake in Target Co. (NYSE:TGT)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Bank of Nova Scotia grew its stake in Target by 153.4% during the third quarter. Bank of Nova Scotia now owns 77,882 shares of the retailer’s stock worth $8,611,000 after purchasing an additional 47,144 shares during the period. Toronto Dominion Bank boosted its position in shares of Target by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 254,622 shares of the retailer’s stock worth $28,154,000 after purchasing an additional 29,206 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in Target by 96.5% in the third quarter. Cape Cod Five Cents Savings Bank now owns 20,210 shares of the retailer’s stock worth $2,235,000 after acquiring an additional 9,925 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Target by 6.5% in the third quarter. CWA Asset Management Group LLC now owns 3,110 shares of the retailer’s stock valued at $344,000 after acquiring an additional 190 shares during the period. Finally, Teza Capital Management LLC raised its position in shares of Target by 168.3% during the third quarter. Teza Capital Management LLC now owns 14,032 shares of the retailer’s stock worth $1,552,000 after purchasing an additional 8,802 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT stock traded down $0.43 on Thursday, hitting $146.74. The company had a trading volume of 2,273,199 shares, compared to its average volume of 3,877,344. The stock’s 50-day simple moving average is $153.77 and its 200 day simple moving average is $153.06. The stock has a market cap of $67.89 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.38 and a beta of 1.20. 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 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) 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 analysts’ expectations of $24.52 billion. During the same period in the previous year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.05%. Target’s dividend payout ratio is 49.38%.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Royal Bank of Canada cut their price target on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Truist Financial lowered their price target on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.