1,229 Shares in Target Co. (NYSE:TGT) Purchased by Steele Capital Management Inc.

Steele Capital Management Inc. purchased a new position in shares of Target Co. (NYSE:TGT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,229 shares of the retailer’s stock, valued at approximately $218,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in Target during the fourth quarter worth about $28,000. Private Wealth Management Group LLC acquired a new position in Target during the fourth quarter worth about $29,000. Rakuten Securities Inc. acquired a new position in Target during the fourth quarter worth about $29,000. Scarborough Advisors LLC acquired a new position in Target during the fourth quarter worth about $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in Target during the first quarter worth about $38,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 price target on shares of Target in a research report on Thursday, May 23rd. BNP Paribas started coverage on shares of Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $177.61.

Target Trading Down 1.6 %

Shares of TGT stock traded down $2.30 during mid-day trading on Monday, reaching $145.74. The company’s stock had a trading volume of 2,627,052 shares, compared to its average volume of 3,938,581. The company’s 50 day simple moving average is $152.97 and its 200-day simple moving average is $153.33. 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 firm has a market capitalization of $67.43 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business posted $2.05 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Target Co. will post 9.32 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) 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.