Miracle Mile Advisors LLC Acquires 472 Shares of Target Co. (NYSE:TGT)

Miracle Mile Advisors LLC raised its holdings in shares of Target Co. (NYSE:TGT) by 17.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,117 shares of the retailer’s stock after acquiring an additional 472 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Target were worth $552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the fourth quarter valued at about $28,000. Rakuten Securities Inc. purchased a new position in shares of Target during the fourth quarter valued at about $29,000. Private Wealth Management Group LLC purchased a new position in shares of Target during the fourth quarter valued at about $29,000. Scarborough Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Target during the fourth quarter valued at about $33,000. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TGT shares. Robert W. Baird restated an “outperform” rating and set a $190.00 price objective on shares of Target in a research report on Thursday, May 23rd. Royal Bank of Canada dropped their price target on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. BMO Capital Markets dropped their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Finally, DA Davidson lifted their price target on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Target Stock Performance

Target stock opened at $145.74 on Tuesday. The company has a market capitalization of $67.43 billion, a PE ratio of 16.36, a P/E/G 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 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 50 day moving average price of $152.97 and a 200-day moving average price of $153.33.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The business had revenue of $24.14 billion during 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 business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. As a group, equities analysts forecast that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.07%. Target’s payout ratio is 49.38%.

Target Company 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.