Boyar Asset Management Inc. Sells 530 Shares of Target Corporation (NYSE:TGT)

Boyar Asset Management Inc. trimmed its stake in shares of Target Corporation (NYSE:TGT) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,472 shares of the retailer’s stock after selling 530 shares during the quarter. Boyar Asset Management Inc.’s holdings in Target were worth $1,093,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of Target in the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new stake in Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC grew its holdings in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after buying an additional 85 shares in the last quarter. OFI Invest Asset Management bought a new position in Target during the 4th quarter worth $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth $40,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE:TGT opened at $96.71 on Thursday. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.81 and a beta of 1.22. The firm has a 50 day simple moving average of $95.95 and a 200 day simple moving average of $113.32.

Target (NYSE:TGT) last announced 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). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s payout ratio is 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on TGT shares. Royal Bank Of Canada decreased their price target on shares of Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Cfra Research cut shares of Target from a “moderate buy” rating to a “hold” rating in a research note on Thursday, April 17th. Robert W. Baird set a $100.00 target price on shares of Target in a research report on Thursday, May 22nd. Jefferies Financial Group lowered their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Bank of America cut Target from a “buy” rating to a “neutral” rating and cut their price target for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $116.70.

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.