Procyon Advisors LLC Sells 10,273 Shares of Target Co. (NYSE:TGT)

Procyon Advisors LLC lessened its holdings in Target Co. (NYSE:TGT) by 56.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,832 shares of the retailer’s stock after selling 10,273 shares during the quarter. Procyon Advisors LLC’s holdings in Target were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Plancorp LLC raised its holdings in shares of Target by 2.1% in the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock worth $535,000 after buying an additional 53 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of Target by 4.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock worth $209,000 after purchasing an additional 80 shares in the last quarter. iA Global Asset Management Inc. raised its stake in Target by 0.4% in the 3rd quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock worth $2,517,000 after acquiring an additional 83 shares during the last quarter. MidWestOne Financial Group Inc. raised its stake in Target by 0.9% in the 1st quarter. MidWestOne Financial Group Inc. now owns 10,200 shares of the retailer’s stock worth $2,164,000 after acquiring an additional 86 shares during the last quarter. Finally, Apexium Financial LP raised its stake in shares of Target by 5.0% during the 2nd quarter. Apexium Financial LP now owns 1,829 shares of the retailer’s stock valued at $241,000 after buying an additional 87 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TGT. DA Davidson raised their target price on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Gordon Haskett upgraded Target from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Wednesday, February 7th. Citigroup lifted their price objective on Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Stifel Nicolaus lifted their price objective on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Finally, Tigress Financial lifted their price objective on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

Target Stock Performance

Shares of TGT stock traded up $0.38 during mid-day trading on Thursday, hitting $175.05. 415,740 shares of the stock were exchanged, compared to its average volume of 3,893,308. The stock’s fifty day simple moving average is $153.23 and its two-hundred day simple moving average is $134.36. The stock has a market capitalization 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. Target Co. has a 12-month low of $102.93 and a 12-month 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.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.57. The company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. On average, analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.27%.

Insider Buying and Selling

In other news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred 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 sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred 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 directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 over the last quarter. 0.23% of the stock is currently 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.