SeaCrest Wealth Management LLC Buys 261 Shares of Target Co. (NYSE:TGT)

SeaCrest Wealth Management LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,374 shares of the retailer’s stock after acquiring an additional 261 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Target were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TGT. Waverly Advisors LLC raised its position in shares of Target by 34.0% during the third quarter. Waverly Advisors LLC now owns 2,570 shares of the retailer’s stock worth $284,000 after acquiring an additional 652 shares during the last quarter. AQR Capital Management LLC increased its holdings in Target by 13.6% in the third quarter. AQR Capital Management LLC now owns 90,440 shares of the retailer’s stock worth $9,986,000 after purchasing an additional 10,813 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Target by 12.9% in the third quarter. Glenmede Trust Co. NA now owns 176,865 shares of the retailer’s stock worth $19,556,000 after purchasing an additional 20,258 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Target by 103.9% in the third quarter. Axxcess Wealth Management LLC now owns 4,593 shares of the retailer’s stock worth $508,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Target by 3.0% in the third quarter. Ameriprise Financial Inc. now owns 2,232,317 shares of the retailer’s stock worth $249,737,000 after purchasing an additional 65,773 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TGT. Barclays lifted their target price on Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, May 7th. DA Davidson boosted their price objective on Target from $167.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Bank of America boosted their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group boosted their price objective on Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Target Stock Down 0.2 %

TGT stock opened at $145.39 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The company has a market capitalization of $67.26 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.39 and a beta of 1.19. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The stock has a fifty day moving average of $152.54 and a 200-day moving average of $153.36.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. As a group, equities research analysts predict that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.08%. Target’s dividend payout ratio is presently 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.