Target Co. (NYSE:TGT) Stock Position Lowered by CMH Wealth Management LLC

CMH Wealth Management LLC cut its stake in shares of Target Co. (NYSE:TGT) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,894 shares of the retailer’s stock after selling 6,461 shares during the quarter. Target makes up approximately 2.8% of CMH Wealth Management LLC’s holdings, making the stock its 10th biggest holding. CMH Wealth Management LLC’s holdings in Target were worth $11,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Harbor Investment Advisory LLC increased its holdings in Target by 81.5% during the first quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock valued at $334,000 after buying an additional 847 shares during the period. Northwest Investment Counselors LLC purchased a new position in Target during the first quarter valued at approximately $38,000. High Net Worth Advisory Group LLC increased its holdings in Target by 16.4% during the first quarter. High Net Worth Advisory Group LLC now owns 3,550 shares of the retailer’s stock valued at $629,000 after buying an additional 500 shares during the period. City Holding Co. increased its holdings in Target by 4.4% during the first quarter. City Holding Co. now owns 19,094 shares of the retailer’s stock valued at $3,384,000 after buying an additional 808 shares during the period. Finally, Ballentine Partners LLC increased its holdings in Target by 21.9% during the first quarter. Ballentine Partners LLC now owns 11,415 shares of the retailer’s stock valued at $2,023,000 after buying an additional 2,052 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TGT has been the topic of several research reports. Stifel Nicolaus lifted their price objective on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. UBS Group cut their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. BMO Capital Markets cut their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and an average target price of $177.61.

Target Price Performance

Shares of Target stock traded up $3.57 during trading hours on Monday, reaching $149.70. The stock had a trading volume of 3,933,035 shares, compared to its average volume of 3,906,871. The stock’s 50 day moving average is $154.75 and its 200 day moving average is $152.92. The firm has a market capitalization of $69.26 billion, a PE ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.20. Target Co. has a twelve month low of $102.93 and a twelve month 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.

Target (NYSE:TGT) last issued 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). The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. Equities analysts expect that Target Co. will post 9.32 earnings per share for the current fiscal 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 paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

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.