Target Co. (NYSE:TGT) Holdings Cut by Fragasso Group Inc.

Fragasso Group Inc. reduced its stake in shares of Target Co. (NYSE:TGT) by 33.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,662 shares of the retailer’s stock after selling 851 shares during the period. Fragasso Group Inc.’s holdings in Target were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Target in the 4th quarter valued at $29,000. Private Wealth Management Group LLC bought a new position in Target during the fourth quarter valued at about $29,000. Scarborough Advisors LLC bought a new position in shares of Target in the 4th quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Target during the fourth quarter valued at approximately $33,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. DA Davidson lifted their target price on shares of Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Bank of America increased their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Wells Fargo & Company lifted their price target on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. TheStreet raised Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Morgan Stanley dropped their target price on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.61.

Target Trading Up 1.9 %

Shares of NYSE TGT opened at $146.07 on Friday. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a 50-day moving average of $154.75 and a two-hundred day moving average of $152.65. The company has a market cap of $67.58 billion, a PE ratio of 16.39, a P/E/G ratio of 1.35 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The company had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same period in the prior year, the business earned $2.05 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Target Co. will post 9.32 earnings per share 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 $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.07%. Target’s dividend payout ratio (DPR) is currently 49.38%.

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.