Ferguson Wellman Capital Management Inc. Has $378,000 Stock Position in Target Co. (NYSE:TGT)

Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Target Co. (NYSE:TGT) by 42.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,556 shares of the retailer’s stock after purchasing an additional 761 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Target were worth $378,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC boosted its holdings in Target by 15.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 9,802 shares of the retailer’s stock valued at $1,451,000 after purchasing an additional 1,293 shares during the period. Community Bank of Raymore lifted its holdings in shares of Target by 19.0% during the 2nd quarter. Community Bank of Raymore now owns 2,880 shares of the retailer’s stock worth $426,000 after acquiring an additional 460 shares during the period. Foguth Wealth Management LLC. bought a new position in shares of Target during the 2nd quarter worth about $216,000. Gemmer Asset Management LLC increased its position in shares of Target by 35.5% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,908 shares of the retailer’s stock worth $282,000 after purchasing an additional 500 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Target during the 2nd quarter worth about $3,650,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TGT shares. UBS Group dropped their target price on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Royal Bank of Canada dropped their target price on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 7th. Finally, Piper Sandler began coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

Target Stock Down 0.2 %

TGT traded down $0.29 during trading on Wednesday, reaching $136.37. 2,575,490 shares of the stock were exchanged, compared to its average volume of 3,871,095. The stock has a market cap of $63.09 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock’s 50 day moving average price is $145.55 and its two-hundred day moving average price is $154.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

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). The firm had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. Target’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Equities analysts expect that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is currently 50.28%.

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.