Target Co. (NYSE:TGT) Shares Purchased by First Pacific Financial

First Pacific Financial grew its position in shares of Target Co. (NYSE:TGT) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,383 shares of the retailer’s stock after purchasing an additional 392 shares during the period. First Pacific Financial’s holdings in Target were worth $1,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in shares of Target during the second quarter worth $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in Target during the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in Target during the fourth quarter worth about $29,000. Private Wealth Management Group LLC acquired a new stake in Target in the 4th quarter worth about $29,000. Finally, Scarborough Advisors LLC purchased a new stake in Target in the 4th quarter valued at about $29,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

TGT stock traded up $0.56 on Monday, reaching $144.60. 4,422,931 shares of the company were exchanged, compared to its average volume of 3,891,123. The firm has a market capitalization of $66.90 billion, a PE ratio of 16.23, a PEG ratio of 1.38 and a beta of 1.19. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The stock’s fifty day moving average price is $145.13 and its 200 day moving average price is $154.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGT) last posted its quarterly earnings data 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 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 previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm 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 $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TGT shares. BNP Paribas initiated coverage on shares of Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target on the stock. Roth Mkm reaffirmed a “neutral” rating and issued a $153.00 target price on shares of Target in a research report on Thursday, May 23rd. Royal Bank of Canada lowered their price target on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Stifel Nicolaus cut their price objective on Target from $170.00 to $147.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.57.

About Target

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.