Target Co. (NYSE:TGT) Stake Decreased by CX Institutional

CX Institutional lessened its holdings in shares of Target Co. (NYSE:TGT) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,956 shares of the retailer’s stock after selling 340 shares during the period. CX Institutional’s holdings in Target were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in TGT. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in Target in the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new position in Target in the fourth quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new position in Target in the fourth quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. grew its position in Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TGT shares. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley decreased their price target on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, May 7th. JPMorgan Chase & Co. lowered their price objective on shares of Target from $165.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.46.

Target Stock Performance

NYSE TGT opened at $132.99 on Friday. The stock has a market cap of $61.53 billion, a P/E ratio of 15.06, a PEG ratio of 1.38 and a beta of 1.19. The company’s 50-day simple moving average is $146.60 and its 200 day simple moving average is $154.33. Target Co. has a twelve month low of $102.93 and a twelve 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.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share 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 net margin of 3.87% and a return on equity of 31.91%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. As a group, research analysts forecast that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.37%. Target’s payout ratio is 50.28%.

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.