First Affirmative Financial Network Reduces Position in Target Co. (NYSE:TGT)

First Affirmative Financial Network cut its holdings in shares of Target Co. (NYSE:TGTFree Report) by 3.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,050 shares of the retailer’s stock after selling 109 shares during the quarter. First Affirmative Financial Network’s holdings in Target were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new position in Target in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in Target in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC bought a new position in Target in the fourth quarter valued at about $29,000. Scarborough Advisors LLC bought a new position in Target in the fourth quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Target in the fourth quarter valued at about $33,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. BNP Paribas initiated coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective on the stock. Tigress Financial raised their price objective on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Evercore ISI raised their price objective on Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Oppenheimer raised their price objective on Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $177.61.

Check Out Our Latest Stock Report on Target

Target Price Performance

NYSE TGT traded up $2.75 during trading on Friday, hitting $146.13. 5,652,005 shares of the stock traded hands, compared to its average volume of 3,693,187. The company has a market capitalization of $67.61 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The firm has a 50-day simple moving average of $154.75 and a 200-day simple moving average of $152.65. 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 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGTGet Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, analysts predict that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.07%. Target’s payout ratio is 49.38%.

About Target

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTFree Report).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.