Carret Asset Management LLC Sells 249 Shares of Target Co. (NYSE:TGT)

Carret Asset Management LLC reduced its stake in Target Co. (NYSE:TGT) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,155 shares of the retailer’s stock after selling 249 shares during the quarter. Target accounts for 1.1% of Carret Asset Management LLC’s portfolio, making the stock its 18th largest position. Carret Asset Management LLC’s holdings in Target were worth $9,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TGT. Ables Iannone Moore & Associates Inc. bought a new stake in Target during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in shares of Target during the 4th quarter worth 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 acquired a new position in shares of Target during the 4th quarter worth about $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Target during the 4th quarter worth about $33,000. 79.73% of the stock is owned by institutional investors.

Target Price Performance

Shares of Target stock traded down $0.89 on Wednesday, reaching $144.50. 1,055,433 shares of the stock were exchanged, compared to its average volume of 3,910,844. The firm has a market cap of $66.85 billion, a PE ratio of 16.31, a P/E/G ratio of 1.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The firm’s 50 day moving average is $152.12 and its 200-day moving average is $153.41. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data 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 during 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%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. As a group, analysts anticipate that Target Co. will post 9.32 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. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.10%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is 49.38%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Guggenheim boosted their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. BNP Paribas initiated coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company upped their price target on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.61.

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.