Target Co. (NYSE:TGT) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in Target Co. (NYSE:TGT) by 17.8% during the first quarter, Holdings Channel.com reports. The firm owned 3,117 shares of the retailer’s stock after acquiring an additional 472 shares during the period. Miracle Mile Advisors LLC’s holdings in Target were worth $552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Little House Capital LLC acquired a new stake in shares of Target in the 1st quarter valued at $1,041,000. BKM Wealth Management LLC raised its holdings in shares of Target by 8.5% in the 1st quarter. BKM Wealth Management LLC now owns 7,178 shares of the retailer’s stock valued at $1,272,000 after purchasing an additional 561 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Target by 38.5% in the 1st quarter. Diversified Trust Co now owns 24,089 shares of the retailer’s stock valued at $4,269,000 after purchasing an additional 6,691 shares in the last quarter. Chapin Davis Inc. raised its holdings in shares of Target by 6.7% in the 1st quarter. Chapin Davis Inc. now owns 4,856 shares of the retailer’s stock valued at $861,000 after purchasing an additional 304 shares in the last quarter. Finally, LVW Advisors LLC raised its holdings in shares of Target by 100.1% in the 1st quarter. LVW Advisors LLC now owns 5,213 shares of the retailer’s stock valued at $924,000 after purchasing an additional 2,608 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the topic of several research analyst reports. Guggenheim lifted their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Truist Financial cut their price target on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. UBS Group cut their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Wednesday, May 22nd. Finally, Gordon Haskett lifted their price target on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.61.

Target Stock Down 1.6 %

TGT stock opened at $145.74 on Tuesday. The company has a market cap of $67.43 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.39 and a beta of 1.19. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company’s 50-day moving average price is $152.97 and its 200 day moving average price is $153.33. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. On average, research analysts expect that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.07%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

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.