Forbes J M & Co. LLP Decreases Position in Target Co. (NYSE:TGT)

Forbes J M & Co. LLP lessened its holdings in Target Co. (NYSE:TGTGet Rating) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,545 shares of the retailer’s stock after selling 160 shares during the period. Forbes J M & Co. LLP’s holdings in Target were worth $540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meitav Dash Investments Ltd. boosted its position in Target by 4,306.2% in the 1st quarter. Meitav Dash Investments Ltd. now owns 137,297 shares of the retailer’s stock valued at $28,933,000 after buying an additional 134,181 shares during the period. Forsta AP Fonden boosted its position in Target by 17.9% in the 1st quarter. Forsta AP Fonden now owns 141,800 shares of the retailer’s stock valued at $30,093,000 after buying an additional 21,500 shares during the period. Wealthsource Partners LLC lifted its position in shares of Target by 1.1% during the 1st quarter. Wealthsource Partners LLC now owns 7,107 shares of the retailer’s stock worth $1,508,000 after purchasing an additional 77 shares during the last quarter. Lindenwold Advisors lifted its position in shares of Target by 2.4% during the 1st quarter. Lindenwold Advisors now owns 10,610 shares of the retailer’s stock worth $2,252,000 after purchasing an additional 249 shares during the last quarter. Finally, Andesa Financial Management Inc. lifted its position in shares of Target by 8.9% during the 1st quarter. Andesa Financial Management Inc. now owns 2,351 shares of the retailer’s stock worth $500,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Guggenheim decreased their price objective on shares of Target from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Telsey Advisory Group decreased their price objective on shares of Target from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Stifel Nicolaus cut shares of Target from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $270.00 to $185.00 in a research report on Wednesday, May 18th. DA Davidson decreased their price objective on shares of Target from $205.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Finally, Cowen decreased their price objective on shares of Target from $265.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $189.08.

Insider Activity

In related news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the sale, the insider now owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Target Stock Down 0.3 %

Shares of NYSE:TGT opened at $166.13 on Friday. The company has a market cap of $77.03 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.91 and a beta of 1.03. The firm’s 50-day simple moving average is $151.90 and its 200-day simple moving average is $193.00. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24. Target Co. has a fifty-two week low of $137.16 and a fifty-two week high of $268.98.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.81). The firm had revenue of $24.83 billion during the quarter, compared to analysts’ expectations of $24.48 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. As a group, equities research analysts predict that Target Co. will post 8.49 earnings per share for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be issued a $1.08 dividend. This is an increase from Target’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.60%. Target’s payout ratio is presently 29.85%.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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