Boyar Asset Management Inc. Sells 530 Shares of Target Corporation (NYSE:TGT)

Boyar Asset Management Inc. lessened its position in shares of Target Corporation (NYSE:TGT) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,472 shares of the retailer’s stock after selling 530 shares during the quarter. Boyar Asset Management Inc.’s holdings in Target were worth $1,093,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in Target during the 4th quarter worth $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target in the 4th quarter worth $29,000. Legacy Investment Solutions LLC boosted its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Target during the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Target in the fourth quarter valued at about $40,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Roth Mkm restated a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Piper Sandler set a $94.00 price target on shares of Target and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Jefferies Financial Group decreased their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. BMO Capital Markets lowered their target price on shares of Target from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada reduced their price target on shares of Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. One 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 company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $116.70.

Target Stock Down 0.8%

Shares of TGT stock opened at $96.71 on Thursday. The firm’s fifty day moving average price is $95.95 and its two-hundred day moving average price is $113.32. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The firm has a market capitalization of $43.94 billion, a P/E ratio of 10.63, a PEG ratio of 2.81 and a beta of 1.22.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. Target’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 EPS. On average, equities analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is currently 49.23%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company’s stock.

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.