Financial Counselors Inc. Cuts Stake in Target Co. (NYSE:TGT)

Financial Counselors Inc. cut its position in Target Co. (NYSE:TGT) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 129,758 shares of the retailer’s stock after selling 12,608 shares during the period. Financial Counselors Inc.’s holdings in Target were worth $17,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Target during the 3rd quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in shares of Target during the fourth quarter valued at $29,000. MCF Advisors LLC boosted its position in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Target in the 3rd quarter worth about $36,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $105.37 on Wednesday. The company has a fifty day simple moving average of $124.66 and a two-hundred day simple moving average of $137.30. Target Co. has a 52 week low of $101.76 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $48.00 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $122.00 price target (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Bank of America dropped their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus cut their price objective on Target from $130.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.55.

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.