Richelieu Gestion SA Sells 5,258 Shares of Target Co. (NYSE:TGT)

Richelieu Gestion SA lessened its position in Target Co. (NYSE:TGT) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,144 shares of the retailer’s stock after selling 5,258 shares during the quarter. Target makes up about 2.2% of Richelieu Gestion SA’s portfolio, making the stock its 25th biggest position. Richelieu Gestion SA’s holdings in Target were worth $2,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the fourth quarter valued at about $28,000. Private Wealth Management Group LLC bought a new position in Target in the fourth quarter valued at about $29,000. Rakuten Securities Inc. bought a new position in Target in the fourth quarter valued at about $29,000. Scarborough Advisors LLC bought a new position in Target in the fourth quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Target during the first quarter worth about $38,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.1 %

Shares of Target stock traded down $0.17 during midday trading on Wednesday, hitting $146.60. The company had a trading volume of 1,476,096 shares, compared to its average volume of 3,881,890. 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 stock has a market capitalization of $67.82 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a 50 day moving average of $154.11 and a 200 day moving average of $153.11. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 earnings per share. On average, equities analysts predict that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Wednesday, May 22nd. Bank of America raised their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. StockNews.com downgraded Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Robert W. Baird restated an “outperform” rating and set a $190.00 price objective on shares of Target in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $177.61.

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.