Target Co. (NYSE:TGT) Shares Bought by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado boosted its holdings in shares of Target Co. (NYSE:TGT) by 59.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,390 shares of the retailer’s stock after buying an additional 40,602 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Target were worth $17,997,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Target during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in Target during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Target during the 4th quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at $29,000. Finally, Godsey & Gibb Inc. raised its holdings in shares of Target by 148.6% in the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TGT shares. Evercore ISI raised their price objective on shares of Target from $165.00 to $166.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. Jefferies Financial Group raised their price objective on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Roth Mkm restated a “neutral” rating and issued a $153.00 price objective on shares of Target in a report on Thursday, May 23rd. Gordon Haskett raised their price objective on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, UBS Group reduced their price objective on shares of Target from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $176.57.

Target Stock Performance

Shares of NYSE:TGT traded down $2.15 during midday trading on Monday, hitting $146.85. The stock had a trading volume of 1,574,259 shares, compared to its average volume of 3,834,935. The company has a market capitalization of $67.94 billion, a PE ratio of 16.72, a P/E/G ratio of 1.40 and a beta of 1.19. The stock has a 50 day moving average price of $147.98 and a two-hundred day moving average price of $154.48. 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 Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its 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 during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. As a group, equities analysts predict that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. 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 3.05%. Target’s payout ratio is presently 49.38%.

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.