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

Skylands Capital LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 16.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500 shares of the retailer’s stock after selling 100 shares during the quarter. Skylands Capital LLC’s holdings in Target were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Little House Capital LLC purchased a new position in Target in the 1st quarter valued at $1,041,000. Nordea Investment Management AB lifted its position in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after purchasing an additional 122,706 shares during the period. QRG Capital Management Inc. boosted its holdings in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new position in Target during the 1st quarter worth approximately $13,958,000. Finally, Blue Chip Partners LLC raised its stake in shares of Target by 5.1% during the 4th quarter. Blue Chip Partners LLC now owns 130,179 shares of the retailer’s stock worth $18,540,000 after buying an additional 6,348 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 0.0 %

Shares of Target stock traded down $0.01 during trading hours on Tuesday, reaching $158.89. The stock had a trading volume of 2,096,948 shares, compared to its average volume of 4,045,299. The firm has a market capitalization of $73.51 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.38 and a beta of 1.19. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The firm has a 50 day simple moving average of $146.22 and a two-hundred day simple moving average of $154.77.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company posted $1.80 earnings per share. Target’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TGT shares. Royal Bank of Canada upped their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler started coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America lifted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.18.

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.