Fragasso Group Inc. Sells 851 Shares of Target Co. (NYSE:TGT)

Fragasso Group Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 33.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,662 shares of the retailer’s stock after selling 851 shares during the quarter. Fragasso Group Inc.’s holdings in Target were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of TGT. Ables Iannone Moore & Associates Inc. bought a new position in Target in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Target in the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new stake in Target during the 4th quarter worth about $29,000. Scarborough Advisors LLC bought a new position in Target in the 4th quarter worth about $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Target during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $146.07 on Friday. 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 has a market cap of $67.58 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.35 and a beta of 1.20. The business’s 50 day moving average price is $154.75 and its 200-day moving average price is $152.65. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released 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 the consensus estimate of $24.52 billion. During the same quarter last year, the firm earned $2.05 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.07%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price objective on shares of Target in a research note on Wednesday, May 22nd. Royal Bank of Canada reduced their target price on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Gordon Haskett raised their price target on Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $177.61.

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.