PDS Planning Inc Reduces Stock Holdings in Target Corporation (NYSE:TGT)

PDS Planning Inc cut its position in shares of Target Corporation (NYSE:TGT) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,233 shares of the retailer’s stock after selling 154 shares during the period. PDS Planning Inc’s holdings in Target were worth $337,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sabal Trust CO increased its holdings in shares of Target by 28.0% during the 1st quarter. Sabal Trust CO now owns 9,016 shares of the retailer’s stock worth $941,000 after buying an additional 1,972 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Target by 69.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 259,268 shares of the retailer’s stock worth $27,057,000 after acquiring an additional 106,589 shares during the period. Value Partners Investments Inc. acquired a new stake in Target during the first quarter worth $3,866,000. SOL Capital Management CO raised its position in Target by 15.5% in the first quarter. SOL Capital Management CO now owns 4,480 shares of the retailer’s stock valued at $468,000 after purchasing an additional 600 shares during the period. Finally, Lifelong Wealth Advisors Inc. raised its position in Target by 20.4% in the first quarter. Lifelong Wealth Advisors Inc. now owns 4,778 shares of the retailer’s stock valued at $499,000 after purchasing an additional 811 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock opened at $99.38 on Friday. The company has a market cap of $45.16 billion, a P/E ratio of 10.92, a PEG ratio of 2.81 and a beta of 1.22. The firm has a fifty day moving average price of $96.16 and a 200 day moving average price of $112.81. 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 12 month low of $87.35 and a 12 month high of $167.40.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.51%. Target’s 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 stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider now directly owns 246,453 shares of the company’s stock, valued at approximately $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 accessible through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $97.00 to $82.00 in a report on Monday, May 12th. Royal Bank Of Canada lowered their target price on shares of Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price target on shares of Target and gave the company a “market perform” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lowered their price objective on shares of Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Roth Capital set a $122.00 target price on shares of Target in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.70.

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.