Carnegie Investment Counsel Trims Position in Target Co. (NYSE:TGT)

Carnegie Investment Counsel lessened its stake in shares of Target Co. (NYSE:TGT) by 5.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm 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 SEC filing.

Several other hedge funds have also bought and sold shares of TGT. Norges Bank bought a new stake in Target during the fourth quarter valued at about $759,810,000. Boston Partners bought a new stake in Target during the first quarter valued at about $335,870,000. International Assets Investment Management LLC grew its holdings 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 valued at $250,244,000 after purchasing an additional 1,745,459 shares during the period. Los Angeles Capital Management LLC grew its holdings in Target by 51,357.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Target by 58.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after purchasing an additional 984,464 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Target stock traded up $0.12 during trading on Tuesday, reaching $144.75. The company had a trading volume of 5,185,909 shares, compared to its average volume of 3,899,253. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The firm’s 50-day simple moving average is $145.13 and its 200 day simple moving average is $154.41. The firm has a market capitalization of $66.97 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data 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). Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $24.14 billion during 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 company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Target Co. will post 9.31 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 issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TGT shares. Wells Fargo & Company cut their price target on Target from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on Target from $165.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. UBS Group dropped their price target on Target from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Evercore ISI increased their price target on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. Finally, Robert W. Baird reissued an “outperform” rating and set a $190.00 price target on shares of Target in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.