Kesler Norman & Wride LLC Sells 80 Shares of Target Co. (NYSE:TGT)

Kesler Norman & Wride LLC trimmed its holdings in Target Co. (NYSE:TGT) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,892 shares of the retailer’s stock after selling 80 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Target were worth $2,108,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TGT. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter worth about $28,000. Private Wealth Management Group LLC purchased a new position in Target in the fourth quarter worth about $29,000. Rakuten Securities Inc. purchased a new position in Target in the fourth quarter worth about $29,000. Scarborough Advisors LLC purchased a new position in Target in the fourth quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in Target in the first quarter worth about $38,000. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TGT has been the topic of several research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. BNP Paribas began coverage on Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price on the stock. Evercore ISI lifted their price objective on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. The Goldman Sachs Group lifted their price objective on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada lowered their price objective on Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.61.

Target Price Performance

NYSE:TGT traded down $0.59 during trading hours on Thursday, reaching $144.80. The stock had a trading volume of 1,633,259 shares, compared to its average volume of 3,936,275. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a 50 day moving average price of $151.71 and a two-hundred day moving average price of $153.35. The stock has a market capitalization of $66.99 billion, a PE ratio of 16.25, a PEG ratio of 1.37 and a beta of 1.19.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. As a group, sell-side analysts anticipate that Target Co. will post 9.32 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. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.09%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s payout ratio 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.