Bryn Mawr Capital Management LLC Cuts Stock Holdings in Target Corporation (NYSE:TGT)

Bryn Mawr Capital Management LLC decreased its stake in shares of Target Corporation (NYSE:TGT) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,841 shares of the retailer’s stock after selling 270 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Target were worth $505,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TGT. DSG Capital Advisors LLC boosted its position in Target by 16.1% in the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after purchasing an additional 21,726 shares during the last quarter. Sierra Summit Advisors LLC raised its stake in shares of Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after buying an additional 3,231 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Target in the fourth quarter valued at $6,459,000. Viking Fund Management LLC raised its stake in shares of Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock valued at $6,262,000 after buying an additional 10,000 shares during the period. Finally, Correct Capital Wealth Management raised its stake in shares of Target by 44.7% in the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after buying an additional 4,189 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TGT shares. Bank of America lowered Target from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Wall Street Zen lowered Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their price objective on Target from $112.00 to $103.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Barclays started coverage on Target in a report on Thursday, May 22nd. They issued an “equal weight” rating for the company. Finally, Mizuho dropped their target price on Target from $92.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and an average target price of $116.70.

Target Price Performance

Shares of TGT stock opened at $101.37 on Thursday. The firm has a fifty day moving average of $98.20 and a two-hundred day moving average of $110.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The firm has a market cap of $46.06 billion, a P/E ratio of 11.14, a P/E/G ratio of 2.92 and a beta of 1.22.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s payout ratio is 50.11%.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

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.