Target Co. (NYSE:TGT) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc trimmed its holdings in Target Co. (NYSE:TGT) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,610 shares of the retailer’s stock after selling 379 shares during the period. Capital Investment Counsel Inc’s holdings in Target were worth $3,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Little House Capital LLC acquired a new position in Target in the first quarter valued at $1,041,000. Nordea Investment Management AB grew its holdings in shares of Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after purchasing an additional 122,706 shares during the period. QRG Capital Management Inc. increased its position in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC purchased a new position in Target in the first quarter valued at approximately $13,958,000. Finally, Blue Chip Partners LLC raised its holdings in Target by 5.1% in the fourth quarter. Blue Chip Partners LLC now owns 130,179 shares of the retailer’s stock valued at $18,540,000 after buying an additional 6,348 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock traded down $0.18 on Tuesday, hitting $144.45. 6,776,777 shares of the company’s stock traded hands, compared to its average volume of 3,909,097. The stock has a market cap of $66.83 billion, a price-to-earnings ratio of 16.21, a P/E/G 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. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $145.10 and a 200-day moving average of $154.40.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company 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 company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. On average, analysts forecast 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. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.10%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s payout ratio is presently 50.28%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TGT. UBS Group dropped their target price on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Roth Mkm reiterated a “neutral” rating and set a $153.00 price objective on shares of Target in a research note on Thursday, May 23rd. Oppenheimer decreased their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company dropped their price target on shares of Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.