Thompson Investment Management Inc. Lowers Position in Target Co. (NYSE:TGT)

Thompson Investment Management Inc. cut its stake in Target Co. (NYSE:TGT) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,475 shares of the retailer’s stock after selling 1,769 shares during the period. Thompson Investment Management Inc.’s holdings in Target were worth $6,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $33,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. UBS Group reduced their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Robert W. Baird reissued an “outperform” rating and set a $190.00 price target on shares of Target in a research report on Thursday, May 23rd. Jefferies Financial Group lifted their target price on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Guggenheim lifted their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.61.

Target Price Performance

Shares of NYSE TGT traded down $0.43 during mid-day trading on Wednesday, hitting $146.34. 1,155,560 shares of the company’s stock traded hands, compared to its average volume of 3,879,443. The company’s 50-day moving average is $154.11 and its two-hundred day moving average is $153.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The company has a market capitalization of $67.70 billion, a P/E ratio of 16.46, a PEG ratio of 1.38 and a beta of 1.20. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (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 firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, equities analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.06%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is presently 49.38%.

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.