Target Co. (NYSE:TGT) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its position in shares of Target Co. (NYSE:TGT) by 5.1% in the 1st quarter, HoldingsChannel reports. The fund owned 6,775 shares of the retailer’s stock after selling 361 shares during the period. Procyon Advisors LLC’s holdings in Target were worth $707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Brighton Jones LLC grew its holdings in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Target by 32.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 22,679 shares of the retailer’s stock worth $3,066,000 after buying an additional 5,573 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its position in shares of Target by 19.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 5,228 shares of the retailer’s stock worth $707,000 after buying an additional 860 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of Target during the 4th quarter worth approximately $300,000. Finally, Leo Wealth LLC lifted its position in shares of Target by 153.0% during the 4th quarter. Leo Wealth LLC now owns 4,357 shares of the retailer’s stock worth $589,000 after buying an additional 2,635 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 4.1%

Shares of Target stock opened at $97.33 on Friday. The company has a market cap of $44.22 billion, a P/E ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a one year low of $87.35 and a one year high of $167.40. The firm has a fifty day moving average of $95.24 and a two-hundred day moving average of $116.12.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. On average, analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.60%. Target’s payout ratio is currently 49.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Target in a research report on Thursday, May 22nd. They set an “equal weight” rating for the company. Guggenheim reduced their price objective on shares of Target from $155.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 27th. Sanford C. Bernstein downgraded shares of Target from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. Citigroup reduced their price objective on shares of Target from $97.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Morgan Stanley reduced their price objective on shares of Target from $160.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Target currently has an average rating of “Hold” and an average target price of $116.70.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

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.