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

Parallel Advisors LLC reduced its position in Target Co. (NYSE:TGT - Free Report) by 31.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,354 shares of the retailer's stock after selling 3,382 shares during the quarter. Parallel Advisors LLC's holdings in Target were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Target by 142.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 11,524 shares of the retailer's stock worth $1,552,000 after buying an additional 6,767 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Target in the fourth quarter worth $1,305,000. Austin Private Wealth LLC lifted its holdings in shares of Target by 13.3% in the fourth quarter. Austin Private Wealth LLC now owns 2,110 shares of the retailer's stock worth $285,000 after buying an additional 248 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of Target in the fourth quarter worth $40,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 1.5%

Shares of TGT traded down $1.40 during midday trading on Wednesday, hitting $94.38. The stock had a trading volume of 2,587,548 shares, compared to its average volume of 7,445,710. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The firm has a market cap of $42.88 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock's 50 day moving average is $95.79 and its 200 day moving average is $117.16.

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). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Wednesday, May 14th. Target's payout ratio is presently 49.23%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Gordon Haskett downgraded shares of Target from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their price target on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Jefferies Financial Group decreased their price target on shares of Target from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Barclays assumed coverage on shares of Target in a research note on Thursday, May 22nd. They set an "equal weight" rating on the stock. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $116.70.

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.