Eagle Ridge Investment Management Decreases Stock Position in Target Co. (NYSE:TGT)

Eagle Ridge Investment Management cut its holdings in Target Co. (NYSE:TGT) by 53.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,015 shares of the retailer’s stock after selling 3,453 shares during the period. Eagle Ridge Investment Management’s holdings in Target were worth $534,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TGT. Ables Iannone Moore & Associates Inc. purchased a new position in Target during the 4th quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new position in Target during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter worth approximately $29,000. Scarborough Advisors LLC purchased a new stake in Target in the 4th quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC bought a new position in Target in the 1st quarter valued at $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Down 0.2 %

TGT traded down $0.35 during midday trading on Tuesday, reaching $145.39. 3,234,873 shares of the company’s stock traded hands, compared to its average volume of 3,933,216. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm has a fifty day moving average of $152.54 and a two-hundred day moving average of $153.36. The stock has a market capitalization of $67.26 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.39 and a beta of 1.19.

Target (NYSE:TGT) last announced 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). The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.05 EPS. On average, equities analysts anticipate that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.08%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TGT. Tigress Financial increased their price objective on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. BNP Paribas initiated coverage on shares of Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, DA Davidson raised their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average target price of $177.61.

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.