Perkins Capital Management Inc. Trims Position in Target Co. (NYSE:TGT)

Perkins Capital Management Inc. lessened its holdings in shares of Target Co. (NYSE:TGT) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,400 shares of the retailer’s stock after selling 100 shares during the quarter. Perkins Capital Management Inc.’s holdings in Target were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC bought a new stake in Target during the 3rd quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of Target during the fourth quarter valued at approximately $29,000. MCF Advisors LLC grew its stake in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. raised its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Target during the third quarter valued at $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $104.29 on Monday. The firm’s 50 day moving average price is $125.89 and its 200-day moving average price is $137.93. 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 stock has a market capitalization of $47.51 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a twelve month low of $101.76 and a twelve month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TGT shares. Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Citigroup cut their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Bank of America cut their price target on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Guggenheim lifted their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Target 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.