Gateway Investment Advisers LLC Has $32.70 Million Stake in Target Co. (NYSE:TGT)

Gateway Investment Advisers LLC reduced its stake in shares of Target Co. (NYSE:TGTFree Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,518 shares of the retailer’s stock after selling 12,128 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Target were worth $32,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Target in the fourth quarter worth about $29,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the fourth quarter worth approximately $29,000. Scarborough Advisors LLC bought a new stake in shares of Target during the fourth quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Target in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGT. JPMorgan Chase & Co. lifted their target price on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. BMO Capital Markets dropped their price objective on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. DA Davidson upped their target price on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. BNP Paribas assumed coverage on shares of Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target for the company. Finally, StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

View Our Latest Research Report on Target

Target Stock Down 1.5 %

TGT stock traded down $2.19 during midday trading on Tuesday, hitting $147.50. The company’s stock had a trading volume of 900,600 shares, compared to its average volume of 3,882,036. The company’s fifty day moving average price is $154.45 and its 200 day moving average price is $153.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market capitalization of $68.24 billion, a P/E ratio of 16.59, a PEG ratio of 1.37 and a beta of 1.20.

Target (NYSE:TGTGet Free Report) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The company had revenue of $24.14 billion during 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 was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts predict that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently announced 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.04%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s payout ratio is presently 49.38%.

About Target

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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