Connors Investor Services Inc. Reduces Stake in Target Co. (NYSE:TGT)

Connors Investor Services Inc. cut its stake in shares of Target Co. (NYSE:TGT) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,968 shares of the retailer’s stock after selling 4,107 shares during the period. Connors Investor Services Inc.’s holdings in Target were worth $10,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Target in the 4th quarter valued at $29,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter worth about $30,000. MCF Advisors LLC boosted its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of 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 during the last quarter. Finally, Legacy Investment Solutions LLC raised its stake in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TGT. Telsey Advisory Group reduced their target price on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Guggenheim lifted their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Citigroup lowered their price objective on Target from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, UBS Group decreased their target price on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Target has a consensus rating of “Hold” and an average target price of $132.37.

Target Stock Performance

Shares of Target stock opened at $96.98 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40. The stock’s fifty day moving average price is $104.27 and its 200-day moving average price is $126.91. The firm has a market cap of $44.18 billion, a P/E ratio of 10.28, a P/E/G ratio of 1.94 and a beta of 1.28.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Target Company 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.