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

Eagle Ridge Investment Management reduced its holdings in Target Co. (NYSE:TGT) by 53.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Bank of Nova Scotia lifted its stake in shares of Target by 153.4% during the 3rd quarter. Bank of Nova Scotia now owns 77,882 shares of the retailer’s stock worth $8,611,000 after acquiring an additional 47,144 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Target by 83.2% in the third quarter. Ancora Advisors LLC now owns 11,933 shares of the retailer’s stock worth $1,319,000 after purchasing an additional 5,420 shares during the last quarter. Gotham Asset Management LLC increased its stake in Target by 1,356.3% in the 3rd quarter. Gotham Asset Management LLC now owns 46,427 shares of the retailer’s stock worth $5,133,000 after buying an additional 43,239 shares during the period. Waverly Advisors LLC lifted its holdings in Target by 34.0% during the 3rd quarter. Waverly Advisors LLC now owns 2,570 shares of the retailer’s stock valued at $284,000 after buying an additional 652 shares in the last quarter. Finally, Logan Capital Management Inc. raised its stake in shares of Target by 5.4% during the third quarter. Logan Capital Management Inc. now owns 27,135 shares of the retailer’s stock valued at $3,000,000 after acquiring an additional 1,396 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

TGT traded down $0.35 during trading on Tuesday, reaching $145.39. The company’s stock had a trading volume of 3,234,873 shares, compared to its average volume of 3,933,216. The company has a market cap of $67.26 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.39 and a beta of 1.19. The firm has a fifty day simple moving average of $152.54 and a two-hundred day simple moving average of $153.36. Target Co. has a 1 year low of $102.93 and a 1 year 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 announced 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). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TGT. Deutsche Bank Aktiengesellschaft dropped their price target on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. BNP Paribas began coverage on shares of Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Wednesday, May 22nd. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets cut their price target on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.