Galibier Capital Management Ltd. Sells 3,066 Shares of Target Co. (NYSE:TGT)

Galibier Capital Management Ltd. cut its holdings in Target Co. (NYSE:TGT) by 30.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,924 shares of the retailer’s stock after selling 3,066 shares during the period. Target makes up 0.3% of Galibier Capital Management Ltd.’s portfolio, making the stock its 25th largest position. Galibier Capital Management Ltd.’s holdings in Target were worth $1,227,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in Target in the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new stake in Target in the fourth quarter worth $29,000. Private Wealth Management Group LLC bought a new stake in Target in the fourth quarter worth $29,000. Scarborough Advisors LLC bought a new position in shares of Target during the fourth quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Target during the fourth quarter valued at about $33,000. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TGT shares. BMO Capital Markets lowered their price objective on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Bank of America boosted their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Tigress Financial boosted their price target on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, Gordon Haskett boosted their price target on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.61.

Target Stock Performance

Target stock traded up $1.32 during midday trading on Friday, reaching $148.04. 12,772,526 shares of the company traded hands, compared to its average volume of 3,818,235. The firm has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. The business has a 50 day moving average of $152.97 and a two-hundred day moving average of $153.10. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. 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 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 company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. As a group, research analysts predict that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed 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 is an increase 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 yield of 3.03%. Target’s dividend payout ratio is 49.38%.

About Target

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.