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

Pallas Capital Advisors LLC increased its stake in shares of Target Co. (NYSE:TGT - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,854 shares of the retailer's stock after purchasing an additional 3,548 shares during the quarter. Pallas Capital Advisors LLC's holdings in Target were worth $1,028,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TGT. Horrell Capital Management Inc. grew its holdings in Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock valued at $3,603,000 after purchasing an additional 76 shares during the last quarter. Fiducient Advisors LLC grew its stake in Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after buying an additional 78 shares during the last quarter. Napatree Capital LLC grew its position in Target by 2.4% during the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock worth $488,000 after purchasing an additional 85 shares during the last quarter. Legacy Investment Solutions LLC grew its stake in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC increased its holdings in Target by 0.3% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets decreased their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. Truist Financial boosted their target price on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on shares of Target in a report on Thursday, May 22nd. Bank of America cut Target from a "buy" rating to a "neutral" rating and dropped their target price for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Finally, Oppenheimer lowered their price target on Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus price target of $116.70.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Target Trading Up 0.1%

NYSE TGT traded up $0.09 during trading on Thursday, hitting $98.20. The stock had a trading volume of 1,931,344 shares, compared to its average volume of 6,085,411. The company has a market capitalization of $44.62 billion, a PE ratio of 10.41, a PEG ratio of 1.94 and a beta of 1.22. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $95.25 and a 200 day moving average price of $115.66.

Target (NYSE:TGT - Get Free Report) last issued its 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 31.11% and a net margin of 4.06%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.56%. Target's payout ratio is 49.23%.

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.