Institute for Wealth Management LLC. Has $601,000 Stock Position in Target Co. (NYSE:TGT)

Institute for Wealth Management LLC. boosted its position in Target Co. (NYSE:TGT) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,058 shares of the retailer’s stock after buying an additional 695 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Target were worth $601,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TGT. Norges Bank bought a new position in shares of Target in the fourth quarter worth about $759,810,000. Boston Partners bought a new position in Target in the 1st quarter worth approximately $335,870,000. International Assets Investment Management LLC lifted its holdings in shares of Target by 15,009.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after buying an additional 1,745,459 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Target by 51,357.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after acquiring an additional 1,218,204 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Target by 58.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock worth $382,145,000 after acquiring an additional 984,464 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upped their target price on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday. BNP Paribas started coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. Oppenheimer reduced their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.52.

Target Trading Up 1.1 %

TGT stock traded up $1.68 during trading on Friday, hitting $158.50. The company had a trading volume of 3,188,295 shares, compared to its average volume of 4,059,595. The firm has a 50-day moving average price of $145.94 and a 200-day moving average price of $154.63. Target Co. has a 12 month low of $102.93 and a 12 month 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. The stock has a market cap of $73.33 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. As a group, analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is 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.