Lyell Wealth Management LP Sells 2,951 Shares of Target Corporation (NYSE:TGT)

Key Points

• Lyell Wealth Management LP reduced its stake in Target Corporation by 27.1%, selling 2,951 shares and now holding 7,935 shares, valued at approximately $828,000.
• In its latest quarterly earnings report, Target missed analysts' expectations with an EPS of $1.30 compared to the consensus estimate of $1.65, and reported a year-over-year revenue decline of 2.8%.
• Target has declared a quarterly dividend of $1.12 per share, representing an annualized dividend yield of 4.5%, with the payment scheduled for September 1st.

Lyell Wealth Management LP lessened its stake in Target Corporation (NYSE:TGT - Free Report) by 27.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,935 shares of the retailer's stock after selling 2,951 shares during the quarter. Lyell Wealth Management LP's holdings in Target were worth $828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TGT. Bernard Wealth Management Corp. acquired a new stake in shares of Target during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC raised its position in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Target during the fourth quarter worth about $40,000. Bellwether Advisors LLC acquired a new stake in Target in the 4th quarter valued at approximately $47,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Target in the 4th quarter valued at approximately $49,000. Institutional investors own 79.73% of the company's stock.

Target Price Performance

Shares of NYSE TGT opened at $100.58 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The stock has a market capitalization of $45.70 billion, a PE ratio of 11.05, a P/E/G ratio of 2.95 and a beta of 1.22. The business has a fifty day moving average price of $99.83 and a two-hundred day moving average price of $107.61.

Target (NYSE:TGT - Get Free Report) last posted 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 return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period last year, the firm posted $2.03 EPS. Target's quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. Target's payout ratio is 49.23%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGT. Morgan Stanley dropped their target price on Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets dropped their target price on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, May 22nd. Guggenheim dropped their target price on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Barclays reissued an "underweight" rating and issued a $91.00 target price on shares of Target in a research report on Monday, July 21st. Finally, Robert W. Baird set a $100.00 price target on Target in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $115.65.

Target Company Profile

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.

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