Prana Capital Management LP Cuts Stake in Target Co. (NYSE:TGT)

Prana Capital Management LP trimmed its position in shares of Target Co. (NYSE:TGT) by 91.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,197 shares of the retailer’s stock after selling 198,884 shares during the quarter. Prana Capital Management LP’s holdings in Target were worth $2,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGT. Brookstone Capital Management lifted its stake in shares of Target by 4.7% in the 4th quarter. Brookstone Capital Management now owns 15,734 shares of the retailer’s stock worth $2,127,000 after purchasing an additional 713 shares during the period. Eastern Bank grew its holdings in shares of Target by 28.8% in the fourth quarter. Eastern Bank now owns 2,965 shares of the retailer’s stock valued at $401,000 after purchasing an additional 663 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Target by 112.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 3,387 shares of the retailer’s stock worth $458,000 after buying an additional 1,790 shares during the period. First Financial Corp IN lifted its position in shares of Target by 330.8% during the fourth quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock worth $38,000 after purchasing an additional 215 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its holdings in shares of Target by 7.7% in the fourth quarter. Mayfair Advisory Group LLC now owns 1,529 shares of the retailer’s stock valued at $207,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 4.3%

NYSE TGT opened at $94.87 on Thursday. The stock has a market cap of $43.11 billion, a PE ratio of 10.06, a P/E/G ratio of 1.94 and a beta of 1.27. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The business has a 50 day moving average price of $98.86 and a two-hundred day moving average price of $122.74. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, sell-side analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TGT. Piper Sandler dropped their price target on Target from $124.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday. Guggenheim increased their price target on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America lowered their price objective on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price target on Target in a report on Wednesday, March 5th. Finally, Robert W. Baird downgraded Target from an “outperform” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.63.

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.