Skylands Capital LLC Lowers Stake in Target Co. (NYSE:TGT)

Skylands Capital LLC cut its holdings in Target Co. (NYSE:TGT) by 81.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 800 shares of the retailer’s stock after selling 3,600 shares during the quarter. Skylands Capital LLC’s holdings in Target were worth $96,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC grew its holdings in shares of Target by 888.9% during the first quarter. Prestige Wealth Management Group LLC now owns 267 shares of the retailer’s stock worth $25,000 after buying an additional 240 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of Target during the first quarter worth $28,000. Vigilant Capital Management LLC lifted its holdings in shares of Target by 689.5% during the first quarter. Vigilant Capital Management LLC now owns 450 shares of the retailer’s stock worth $42,000 after purchasing an additional 393 shares during the period. Capital Square LLC purchased a new position in Target in the 1st quarter valued at $42,000. Finally, Stonebridge Financial Planning Group LLC increased its stake in Target by 250.0% in the 2nd quarter. Stonebridge Financial Planning Group LLC now owns 350 shares of the retailer’s stock valued at $42,000 after buying an additional 250 shares during the period. 80.99% of the stock is owned by institutional investors and hedge funds.

In other Target news, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $120.00, for a total value of $13,200,000.00. Following the completion of the transaction, the insider now directly owns 208,502 shares in the company, valued at approximately $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,109 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $120.04, for a total value of $493,244.36. Following the transaction, the director now directly owns 48,947 shares in the company, valued at approximately $5,875,597.88. The disclosure for this sale can be found here. Insiders have sold a total of 139,524 shares of company stock worth $16,783,219 over the last ninety days. 0.52% of the stock is owned by corporate insiders.

TGT has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Target in a report on Wednesday, April 8th. Bank of America lifted their price objective on Target from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Credit Suisse Group reissued a “buy” rating and set a $132.00 target price on shares of Target in a research note on Thursday, June 18th. Robert W. Baird raised their price target on Target from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Finally, UBS Group upped their price objective on Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $128.08.

TGT stock opened at $125.88 on Friday. The stock’s 50 day moving average price is $119.96 and its 200 day moving average price is $113.35. The firm has a market cap of $62.29 billion, a P/E ratio of 22.82, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.01. Target Co. has a 1 year low of $80.03 and a 1 year high of $130.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.19. The business had revenue of $19.37 billion for the quarter, compared to the consensus estimate of $19.04 billion. Target had a return on equity of 24.17% and a net margin of 3.46%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 earnings per share. On average, research analysts predict that Target Co. will post 4.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Target’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, August 18th. Target’s dividend payout ratio is 41.31%.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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