Procyon Advisors LLC Sells 623 Shares of Target Co. (NYSE:TGT)

Procyon Advisors LLC cut its holdings in Target Co. (NYSE:TGT) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Target during the 4th quarter worth approximately $28,000. Private Wealth Management Group LLC acquired a new stake in Target in the 4th quarter valued at $29,000. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter valued at $29,000. Scarborough Advisors LLC acquired a new position in Target during the fourth quarter worth $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Target in the first quarter valued at $38,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 0.3 %

NYSE:TGT traded down $0.45 during midday trading on Thursday, reaching $146.72. 2,273,024 shares of the stock traded hands, compared to its average volume of 3,877,344. The stock has a market capitalization of $67.88 billion, a P/E ratio of 16.48, a PEG ratio of 1.38 and a beta of 1.20. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. 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 company has a fifty day moving average of $153.77 and a 200 day moving average of $153.06.

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

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.05%. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Bank of America increased their price target on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. BNP Paribas assumed coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. Finally, Evercore ISI raised their price target on shares of Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus price target of $177.61.

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.