Carnegie Investment Counsel Sells 151 Shares of Target Co. (NYSE:TGT)

Carnegie Investment Counsel lessened its stake in shares of Target Co. (NYSE:TGT) by 5.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,452 shares of the retailer’s stock after selling 151 shares during the period. Carnegie Investment Counsel’s holdings in Target were worth $363,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. International Assets Investment Management LLC increased its position in Target by 15,009.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after buying an additional 1,745,459 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Target by 38.1% in the fourth quarter. Federated Hermes Inc. now owns 138,793 shares of the retailer’s stock valued at $19,767,000 after purchasing an additional 38,318 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Target by 74.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 8,954 shares of the retailer’s stock valued at $1,275,000 after purchasing an additional 3,822 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Target by 2.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,487 shares of the retailer’s stock valued at $497,000 after purchasing an additional 99 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Target by 30.1% in the fourth quarter. Signaturefd LLC now owns 11,276 shares of the retailer’s stock valued at $1,606,000 after purchasing an additional 2,606 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT traded up $0.12 during trading on Tuesday, hitting $144.75. The company’s stock had a trading volume of 5,185,909 shares, compared to its average volume of 3,899,253. 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 Co. has a one year low of $102.93 and a one year high of $181.86. The firm has a market cap of $66.97 billion, a PE ratio of 16.23, a P/E/G ratio of 1.38 and a beta of 1.19. The business’s 50 day simple moving average is $145.13 and its 200-day simple moving average is $154.41.

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 analysts’ expectations 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 in the previous year, the business earned $2.05 earnings per share. As a group, sell-side analysts predict that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.09%. Target’s dividend payout ratio (DPR) is 50.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com downgraded Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. Stifel Nicolaus cut their price target on Target from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets cut their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. BNP Paribas started coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on Target from $165.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.57.

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.