Prana Capital Management LP Lowers Stock Holdings in Target Co. (NYSE:TGT)

Prana Capital Management LP cut its stake in Target Co. (NYSE:TGT) by 91.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,197 shares of the retailer’s stock after selling 198,884 shares during the period. Prana Capital Management LP’s holdings in Target were worth $2,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nicholas Company Inc. increased its position in shares of Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after purchasing an additional 9,485 shares in the last quarter. River Road Asset Management LLC boosted its stake in shares of Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after acquiring an additional 138,751 shares in the last quarter. Sierra Summit Advisors LLC boosted its stake in shares of Target by 29.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock worth $1,940,000 after acquiring an additional 3,231 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Target in the 4th quarter valued at approximately $6,459,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

TGT opened at $94.87 on Thursday. The company has a market capitalization of $43.11 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $98.86 and a 200-day moving average price of $122.74. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Equities analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.72%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on Target from $124.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Roth Capital set a $122.00 price target on shares of Target in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Target from $140.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Citigroup reissued a “neutral” rating and issued a $97.00 target price (up previously from $95.00) on shares of Target in a report on Wednesday. Finally, Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Two 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 company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus target price of $128.63.

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.