Wealth Management Partners LLC Sells 546 Shares of Target Co. (NYSE:TGT)

Wealth Management Partners LLC lowered its stake in Target Co. (NYSE:TGTFree Report) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,975 shares of the retailer’s stock after selling 546 shares during the quarter. Wealth Management Partners LLC’s holdings in Target were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Vanguard Group Inc. lifted its stake in shares of Target by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after purchasing an additional 417,818 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Target by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after acquiring an additional 868,274 shares during the last quarter. Franklin Resources Inc. raised its holdings in Target by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after purchasing an additional 137,180 shares during the period. Norges Bank purchased a new position in Target during the fourth quarter valued at $759,810,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Target by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,873,399 shares of the retailer’s stock worth $409,230,000 after buying an additional 125,489 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock traded down $2.24 during mid-day trading on Tuesday, hitting $147.45. 567,149 shares of the stock were exchanged, compared to its average volume of 3,879,280. 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 52-week low of $102.93 and a 52-week high of $181.86. The firm has a fifty day moving average of $154.45 and a 200 day moving average of $153.02. The company has a market cap of $68.22 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date 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 3.04%. Target’s payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Bank of America boosted their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd. Finally, Stifel Nicolaus lifted their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.61.

View Our Latest Stock Analysis on TGT

Target Company Profile

(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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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