Dumont & Blake Investment Advisors LLC Grows Position in Target Co. (NYSE:TGT)

Dumont & Blake Investment Advisors LLC raised its holdings in shares of Target Co. (NYSE:TGT) by 1.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,581 shares of the retailer’s stock after purchasing an additional 105 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Target were worth $1,521,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TGT. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target during the fourth quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new stake in Target during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new position in Target in the fourth quarter worth $29,000. Scarborough Advisors LLC purchased a new position in Target in the fourth quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Target during the first quarter worth $38,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT traded up $1.32 during midday trading on Friday, hitting $148.04. 12,772,526 shares of the company traded hands, compared to its average volume of 3,818,235. The business has a 50 day simple moving average of $152.97 and a two-hundred day simple moving average of $153.22. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.39 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 (NYSE:TGT) last issued its quarterly 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 net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.03%. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TGT. Roth Mkm restated a “neutral” rating and set a $153.00 target price on shares of Target in a research note on Thursday, May 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Wednesday, May 22nd. Robert W. Baird reissued an “outperform” rating and set a $190.00 target price on shares of Target in a research report on Thursday, May 23rd. Bank of America raised their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Gordon Haskett boosted their price target on Target from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.61.

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.