Kestra Advisory Services LLC Acquires 3,370 Shares of Target Co. (NYSE:TGT)

Kestra Advisory Services LLC raised its position in shares of Target Co. (NYSE:TGT) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,656 shares of the retailer’s stock after acquiring an additional 3,370 shares during the period. Kestra Advisory Services LLC’s holdings in Target were worth $15,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of Target by 6.2% during the 1st quarter. Lazard Asset Management LLC now owns 303,593 shares of the retailer’s stock worth $53,799,000 after acquiring an additional 17,748 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Target during the 1st quarter worth approximately $245,000. Stonebridge Capital Advisors LLC raised its holdings in shares of Target by 0.8% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 26,558 shares of the retailer’s stock worth $4,706,000 after acquiring an additional 223 shares in the last quarter. Capital International Sarl purchased a new stake in shares of Target during the 1st quarter worth approximately $709,000. Finally, Capital International Inc. CA raised its holdings in shares of Target by 22.2% during the 1st quarter. Capital International Inc. CA now owns 60,729 shares of the retailer’s stock worth $10,762,000 after acquiring an additional 11,048 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.9 %

TGT stock traded up $2.71 during trading on Friday, reaching $149.00. 2,426,969 shares of the company traded hands, compared to its average volume of 3,565,830. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The business has a 50 day simple moving average of $147.98 and a 200 day simple moving average of $154.40. The company has a market capitalization of $68.93 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. 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 quarterly earnings data 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 for the quarter, compared to the consensus estimate of $24.52 billion. During the same period in the previous year, the business earned $2.05 EPS. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Target Co. will post 9.31 earnings per share for the current fiscal 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 paid a $1.12 dividend. 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 dividend on an annualized basis and a yield of 3.01%. Target’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TGT shares. Evercore ISI increased their price target on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. Morgan Stanley decreased their price target on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Roth Mkm restated a “neutral” rating and set a $153.00 price target on shares of Target in a report on Thursday, May 23rd. BNP Paribas started coverage on Target in a report on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target on the stock. Finally, Piper Sandler initiated coverage on Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. One 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.57.

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.