Capital Investment Counsel Inc Trims Stock Position in Target Co. (NYSE:TGT)

Capital Investment Counsel Inc decreased its holdings in shares of Target Co. (NYSE:TGT) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,512 shares of the retailer’s stock after selling 1,164 shares during the period. Capital Investment Counsel Inc’s holdings in Target were worth $2,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Allspring Global Investments Holdings LLC increased its position in Target by 57.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,365 shares of the retailer’s stock worth $28,579,000 after purchasing an additional 66,870 shares during the period. Eastern Bank increased its position in Target by 47.2% during the 3rd quarter. Eastern Bank now owns 2,302 shares of the retailer’s stock worth $359,000 after purchasing an additional 738 shares during the period. Courier Capital LLC acquired a new position in Target during the 3rd quarter worth approximately $1,532,000. Monte Financial Group LLC increased its position in Target by 22.6% during the 3rd quarter. Monte Financial Group LLC now owns 50,932 shares of the retailer’s stock worth $7,938,000 after purchasing an additional 9,381 shares during the period. Finally, International Assets Investment Management LLC increased its position in Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Down 1.9 %

Shares of Target stock opened at $128.20 on Friday. 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 firm has a market cap of $58.74 billion, a PE ratio of 13.60, a P/E/G ratio of 1.97 and a beta of 1.15. The business’s fifty day moving average is $134.61 and its two-hundred day moving average is $142.74. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $2.10 earnings per share. Analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 47.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. BMO Capital Markets lowered their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Roth Mkm lowered their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Citigroup upped their price target on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and lowered their price target for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Hold” and an average target price of $157.70.

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.