Procyon Advisors LLC Decreases Stake in Target Co. (NYSE:TGT)

Procyon Advisors LLC decreased its stake in shares of Target Co. (NYSE:TGT) by 56.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,832 shares of the retailer’s stock after selling 10,273 shares during the period. Procyon Advisors LLC’s holdings in Target were worth $1,115,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Sittner & Nelson LLC lifted its position in shares of Target by 150.6% during the second quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Tower View Wealth Management LLC increased its stake in shares of Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the period. First Capital Advisors Group LLC. acquired a new stake in shares of Target in the second quarter valued at approximately $31,000. Penserra Capital Management LLC acquired a new stake in shares of Target in the fourth quarter valued at approximately $35,000. Finally, Kenfarb & CO. increased its stake in shares of Target by 81.3% in the second quarter. Kenfarb & CO. now owns 290 shares of the retailer’s stock valued at $38,000 after purchasing an additional 130 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.2 %

NYSE:TGT traded up $0.38 during trading hours on Thursday, hitting $175.05. The stock had a trading volume of 415,740 shares, compared to its average volume of 3,893,308. Target Co. has a one year low of $102.93 and a one year high of $176.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.62 and a beta of 1.13. The business’s 50 day moving average is $153.23 and its 200-day moving average is $134.36.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Sell-side analysts anticipate that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Activity

In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock worth $8,819,598 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Barclays raised their target price on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. BMO Capital Markets raised their price objective on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Finally, Royal Bank of Canada raised their price target on shares of Target from $157.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.73.

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.