Silverlake Wealth Management LLC Buys Shares of 1,233 Target Co. (NYSE:TGT)

Silverlake Wealth Management LLC purchased a new position in shares of Target Co. (NYSE:TGT) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,233 shares of the retailer’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter worth $28,000. Private Wealth Management Group LLC acquired a new position in Target during the fourth quarter worth about $29,000. Rakuten Securities Inc. purchased a new position in Target in the fourth quarter valued at about $29,000. Scarborough Advisors LLC acquired a new stake in shares of Target in the 4th quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in Target in the 1st quarter valued at approximately $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TGT shares. Roth Mkm reissued a “neutral” rating and issued a $153.00 target price on shares of Target in a report on Thursday, May 23rd. Barclays boosted their price objective on shares of Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Evercore ISI lifted their target price on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Stifel Nicolaus raised their price objective on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Finally, BNP Paribas started coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $177.61.

Target Stock Down 0.2 %

NYSE TGT opened at $145.39 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The business has a 50 day moving average price of $152.54 and a two-hundred day moving average price of $153.36. The stock has a market cap of $67.26 billion, a PE ratio of 16.32, a P/E/G ratio of 1.39 and a beta of 1.19.

Target (NYSE:TGT) last released its quarterly earnings results 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). The firm had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, sell-side analysts predict that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

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