Cypress Capital LLC Has $1.29 Million Position in Target Co. (NYSE:TGT)

Cypress Capital LLC lifted its position in shares of Target Co. (NYSE:TGTGet Rating) by 4.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,059 shares of the retailer’s stock after purchasing an additional 252 shares during the quarter. Cypress Capital LLC’s holdings in Target were worth $1,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TGT. Measured Wealth Private Client Group LLC lifted its holdings in Target by 3.4% in the first quarter. Measured Wealth Private Client Group LLC now owns 1,322 shares of the retailer’s stock worth $281,000 after buying an additional 43 shares during the period. J2 Capital Management Inc increased its position in shares of Target by 3.1% during the first quarter. J2 Capital Management Inc now owns 1,524 shares of the retailer’s stock valued at $323,000 after acquiring an additional 46 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of Target by 18.5% during the fourth quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock valued at $70,000 after acquiring an additional 47 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of Target by 5.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 944 shares of the retailer’s stock valued at $218,000 after acquiring an additional 48 shares in the last quarter. Finally, Menard Financial Group LLC increased its position in shares of Target by 1.9% during the first quarter. Menard Financial Group LLC now owns 2,596 shares of the retailer’s stock valued at $551,000 after acquiring an additional 48 shares in the last quarter. 81.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of Target from $205.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Raymond James cut their target price on shares of Target from $205.00 to $190.00 and set a “strong-buy” rating for the company in a research report on Wednesday, June 8th. Royal Bank of Canada cut their target price on shares of Target from $239.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Gordon Haskett cut their target price on shares of Target from $300.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Finally, Stifel Nicolaus downgraded shares of Target from a “buy” rating to a “hold” rating and cut their target price for the stock from $270.00 to $185.00 in a research report on Wednesday, May 18th. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus target price of $189.08.

Insiders Place Their Bets

In other Target news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $139.98, for a total value of $6,367,690.20. Following the sale, the insider now owns 157,333 shares in the company, valued at approximately $22,023,473.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Target Stock Down 0.3 %

TGT opened at $166.13 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.14 and a current ratio of 0.87. Target Co. has a fifty-two week low of $137.16 and a fifty-two week high of $268.98. The firm’s fifty day moving average is $151.90 and its 200 day moving average is $193.00. The stock has a market cap of $77.03 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03.

Target (NYSE:TGTGet Rating) last released its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. During the same quarter last year, the firm posted $3.69 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Target Co. will post 8.49 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be paid a $1.08 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $4.32 annualized dividend and a yield of 2.60%. This is a boost from Target’s previous quarterly dividend of $0.90. Target’s payout ratio is presently 29.85%.

About Target

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

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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