Gemmer Asset Management LLC Buys 500 Shares of Target Co. (NYSE:TGT)

Gemmer Asset Management LLC grew its stake in shares of Target Co. (NYSE:TGT) by 35.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,908 shares of the retailer’s stock after buying an additional 500 shares during the period. Gemmer Asset Management LLC’s holdings in Target were worth $282,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. M&G Plc bought a new position in Target in the second quarter worth $3,650,000. Wedmont Private Capital raised its position in Target by 8.1% in the second quarter. Wedmont Private Capital now owns 4,902 shares of the retailer’s stock worth $749,000 after purchasing an additional 368 shares in the last quarter. Cooper Financial Group lifted its stake in Target by 8.4% during the second quarter. Cooper Financial Group now owns 4,971 shares of the retailer’s stock worth $736,000 after purchasing an additional 384 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Target by 7.3% during the second quarter. Sequoia Financial Advisors LLC now owns 24,807 shares of the retailer’s stock valued at $3,672,000 after purchasing an additional 1,688 shares in the last quarter. Finally, LVW Advisors LLC grew its stake in shares of Target by 20.4% in the 2nd quarter. LVW Advisors LLC now owns 6,278 shares of the retailer’s stock valued at $929,000 after purchasing an additional 1,065 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.2 %

Shares of NYSE:TGT traded up $1.64 during midday trading on Tuesday, reaching $136.66. 2,973,618 shares of the company were exchanged, compared to its average volume of 3,878,238. The firm has a market cap of $63.22 billion, a PE ratio of 15.15, a P/E/G ratio of 1.38 and a beta of 1.19. The stock has a fifty day simple moving average of $145.83 and a two-hundred day simple moving average of $154.44. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. 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 (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. As a group, sell-side analysts forecast that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.28%. Target’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

TGT has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Target from $170.00 to $147.00 and set a “hold” rating for the company in a research report on Tuesday. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. UBS Group decreased their target price on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Roth Mkm reaffirmed a “neutral” rating and issued a $153.00 price target on shares of Target in a report on Thursday, May 23rd. Finally, Royal Bank of Canada decreased their price objective on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.39.

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.