Carnegie Investment Counsel Has $226,000 Stake in Target Co. (NYSE:TGT)

Carnegie Investment Counsel reduced its position in shares of Target Co. (NYSE:TGT) by 40.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,452 shares of the retailer’s stock after selling 1,000 shares during the period. Carnegie Investment Counsel’s holdings in Target were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Target during the 2nd quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its holdings in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Slocum Gordon & Co LLP bought a new position in Target in the second quarter valued at $28,000. Retirement Group LLC increased its stake in Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after buying an additional 91 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Target during the 4th quarter worth about $29,000. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of Target stock opened at $160.65 on Wednesday. The company has a 50-day simple moving average of $150.88 and a two-hundred day simple moving average of $152.98. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock has a market capitalization of $74.32 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 earnings per share. Analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent research reports. Citigroup lifted their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. Daiwa America raised shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.23% of the company’s stock.

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.