Accredited Investors Inc. Lowers Stock Position in Target Co. (NYSE:TGT)

Accredited Investors Inc. reduced its stake in Target Co. (NYSE:TGT – Get Rating) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,230 shares of the retailer’s stock after selling 1,242 shares during the quarter. Accredited Investors Inc.’s holdings in Target were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Annapolis Financial Services LLC raised its stake in Target by 96.2% in the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of Target by 75.6% during the second quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Target during the third quarter worth approximately $34,000. Wellington Shields & Co. LLC purchased a new position in shares of Target during the second quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Target during the third quarter worth approximately $37,000. 78.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TGT. BMO Capital Markets downgraded shares of Target from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $190.00 to $165.00 in a research note on Thursday, November 17th. Wells Fargo & Company cut shares of Target from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $142.00 in a report on Wednesday, January 4th. UBS Group cut their target price on shares of Target from $205.00 to $194.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. KeyCorp cut their target price on shares of Target from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, November 17th. Finally, Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating and set a $132.00 target price on the stock. in a report on Wednesday, December 21st. Twelve investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Target has a consensus rating of “Moderate Buy” and an average target price of $181.07.

Target Stock Performance

NYSE:TGT traded up $2.37 during mid-day trading on Thursday, reaching $179.45. The company’s stock had a trading volume of 337,504 shares, compared to its average volume of 3,208,500. Target Co. has a 12-month low of $137.16 and a 12-month high of $254.87. The firm’s fifty day moving average price is $156.47 and its two-hundred day moving average price is $159.74. The company has a current ratio of 0.86, a quick ratio of 0.14 and a debt-to-equity ratio of 1.29. The stock has a market cap of $82.59 billion, a P/E ratio of 24.26, a PEG ratio of 3.16 and a beta of 1.04.

Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.61). The firm had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. Target had a net margin of 3.17% and a return on equity of 30.51%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 earnings per share. On average, equities analysts forecast that Target Co. will post 5.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $1.08 per share. The ex-dividend date is Tuesday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.41%. Target’s dividend payout ratio is currently 59.18%.

Target Profile

(Get Rating)

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.