Pallas Capital Advisors LLC Cuts Stock Position in Target Co. (NYSE:TGT)

Pallas Capital Advisors LLC decreased its position in shares of Target Co. (NYSE:TGT) by 17.0% in the 4th quarter, Holdings Channel reports. The fund owned 6,306 shares of the retailer’s stock after selling 1,291 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Target were worth $852,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of Target in the third quarter worth $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Target during the third quarter valued at about $36,000. Catalyst Capital Advisors LLC bought a new position in Target during the 3rd quarter worth approximately $38,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Target in the third quarter worth $41,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and issued a $165.00 price target on shares of Target in a report on Monday, November 25th. Citigroup cut shares of Target from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $188.00 to $130.00 in a research report on Wednesday, November 20th. Bank of America reduced their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Melius Research began coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Target currently has an average rating of “Hold” and an average price target of $160.57.

Target Price Performance

NYSE TGT opened at $138.89 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $63.64 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.21 and a beta of 1.16. The stock has a 50-day moving average of $137.36 and a 200 day moving average of $145.47. Target Co. has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 8.6 EPS for the current year.

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.