Forbes J M & Co. LLP Has $438,000 Holdings in Target Co. (NYSE:TGT)

Forbes J M & Co. LLP cut its holdings in shares of Target Co. (NYSE:TGT) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,472 shares of the retailer’s stock after selling 100 shares during the period. Forbes J M & Co. LLP’s holdings in Target were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new position in Target in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the 4th quarter worth about $29,000. Scarborough Advisors LLC bought a new stake in shares of Target in the 4th quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Target during the 4th quarter worth approximately $33,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 target price on shares of Target in a report on Thursday, May 23rd. Jefferies Financial Group increased their target price on Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Morgan Stanley cut their price target on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Barclays raised their price objective on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.61.

Target Trading Up 1.9 %

Shares of Target stock traded up $2.75 during trading on Friday, hitting $146.13. The company’s stock had a trading volume of 5,652,005 shares, compared to its average volume of 3,693,187. The stock has a market cap of $67.61 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The stock has a 50-day moving average price of $154.75 and a two-hundred day moving average price of $152.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued 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). Target had a net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same period in the previous year, the company posted $2.05 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.07%. Target’s dividend payout ratio is 49.38%.

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.