Target Co. (NYSE:TGT) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. decreased its position in shares of Target Co. (NYSE:TGT) by 27.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,350 shares of the retailer’s stock after selling 4,216 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Target were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TGT. Brookstone Capital Management grew its holdings in Target by 28.8% in the fourth quarter. Brookstone Capital Management now owns 10,803 shares of the retailer’s stock valued at $1,539,000 after purchasing an additional 2,414 shares during the period. Advisor Resource Council acquired a new stake in Target in the 4th quarter valued at $458,000. Accurate Wealth Management LLC purchased a new stake in Target in the 4th quarter worth $284,000. Premier Path Wealth Partners LLC acquired a new position in Target during the fourth quarter worth $388,000. Finally, CoreCap Advisors LLC lifted its holdings in Target by 1.7% during the fourth quarter. CoreCap Advisors LLC now owns 20,195 shares of the retailer’s stock valued at $2,876,000 after purchasing an additional 340 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 2.5 %

Shares of TGT stock traded down $3.82 during trading hours on Wednesday, hitting $146.45. The company had a trading volume of 1,189,882 shares, compared to its average volume of 3,853,690. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The company’s fifty day moving average is $148.71 and its 200 day moving average is $154.39. The stock has a market capitalization of $67.75 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.19.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Research analysts expect that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.06%. Target’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Jefferies Financial Group increased their target price on Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. UBS Group reduced their price objective on Target from $191.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Gordon Haskett lifted their target price on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $176.57.

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.