Clifford Swan Investment Counsel LLC Trims Stake in Target Co. (TGT)
Clifford Swan Investment Counsel LLC trimmed its position in Target Co. (NYSE:TGT) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,593 shares of the retailer’s stock after selling 8,234 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Target were worth $5,457,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TGT. Westside Investment Management Inc. increased its holdings in Target by 128.6% in the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after acquiring an additional 900 shares in the last quarter. Signaturefd LLC purchased a new stake in Target in the 1st quarter worth approximately $112,000. Security Asset Management purchased a new stake in Target in the 4th quarter worth approximately $115,000. First Mercantile Trust Co. purchased a new stake in Target in the 4th quarter worth approximately $124,000. Finally, SWS Partners purchased a new stake in Target in the 4th quarter worth approximately $132,000. 88.98% of the stock is owned by institutional investors.
Several research firms have weighed in on TGT. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a research note on Monday. Credit Suisse Group set a $86.00 price target on Target and gave the stock a “buy” rating in a research note on Monday. MKM Partners set a $93.00 price target on Target and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, Wolfe Research upgraded Target from a “market perform” rating to an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $74.37.
NYSE TGT opened at $75.83 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.95 and a debt-to-equity ratio of 0.97. The company has a market cap of $39.17 billion, a PE ratio of 16.10, a PEG ratio of 2.64 and a beta of 0.71. Target Co. has a one year low of $73.97 and a one year high of $75.64.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share. sell-side analysts expect that Target Co. will post 5.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.27%. Target’s dividend payout ratio is currently 52.65%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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