Western Wealth Management LLC Sells 648 Shares of Target Co. (NYSE:TGT)

by · The Markets Daily

Western Wealth Management LLC cut its stake in shares of Target Co. (NYSE:TGT – Free Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,633 shares of the retailer’s stock after selling 648 shares during the quarter. Western Wealth Management LLC’s holdings in Target were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGT. Hopwood Financial Services Inc. acquired a new stake in Target during the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in Target during the 4th quarter worth approximately $30,000. Raleigh Capital Management Inc. boosted its position in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. MCF Advisors LLC lifted its position in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Finally, Legacy Investment Solutions LLC lifted its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Trading Up 2.2%

Shares of Target stock opened at $95.05 on Friday. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The firm has a market cap of $43.19 billion, a PE ratio of 10.08, a PEG ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50 day simple moving average of $97.49 and a two-hundred day simple moving average of $120.55.

Target (NYSE:TGT – Get Free Report) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.71%. Target’s payout ratio is presently 50.56%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. DA Davidson dropped their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho lowered their price objective on shares of Target from $92.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday. Robert W. Baird set a $100.00 price objective on shares of Target in a research note on Thursday. Finally, Bank of America lowered shares of Target from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $105.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.97.

View Our Latest Stock Analysis on Target

About Target

(Free Report)

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.

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