Procyon Advisors LLC Has $1.28 Million Stake in Target Co. (NYSE:TGT)

Procyon Advisors LLC lowered its stake in shares of Target Co. (NYSE:TGT) by 8.0% in the first quarter, Holdings Channel reports. The institutional investor owned 7,209 shares of the retailer’s stock after selling 623 shares during the period. Procyon Advisors LLC’s holdings in Target were worth $1,278,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new position in Target in the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new position in Target during the fourth quarter worth about $29,000. Scarborough Advisors LLC acquired a new stake in Target during the fourth quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Target in the 4th quarter valued at approximately $33,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. Bank of America boosted their price target on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Robert W. Baird reiterated an “outperform” rating and set a $190.00 target price on shares of Target in a research report on Thursday, May 23rd. Stifel Nicolaus boosted their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Jefferies Financial Group raised their price objective on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Guggenheim boosted their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company. 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 Trading Down 0.3 %

NYSE:TGT traded down $0.45 on Thursday, reaching $146.72. The company’s stock had a trading volume of 2,273,024 shares, compared to its average volume of 3,877,344. The firm has a market cap of $67.88 billion, a PE ratio of 16.48, a PEG ratio of 1.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The business’s 50-day moving average price is $153.77 and its two-hundred day moving average price is $153.06. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, August 21st. 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.