Prana Capital Management LP Sells 198,884 Shares of Target Co. (NYSE:TGT)

Prana Capital Management LP lessened its holdings in Target Co. (NYSE:TGT - Free Report) by 91.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,197 shares of the retailer's stock after selling 198,884 shares during the period. Prana Capital Management LP's holdings in Target were worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TGT. Hopwood Financial Services Inc. bought a new stake in Target in the 4th quarter valued at $29,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter valued at about $30,000. MCF Advisors LLC raised its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. raised its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after acquiring an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC raised its holdings in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. Institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TGT shares. JPMorgan Chase & Co. lowered their price target on shares of Target from $140.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Robert W. Baird cut shares of Target from an "outperform" rating to a "neutral" rating and set a $110.00 price target on the stock. in a report on Monday, April 7th. Telsey Advisory Group lowered their price target on shares of Target from $145.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday. UBS Group lowered their price target on shares of Target from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, Citigroup reissued a "neutral" rating and issued a $97.00 price target (up from $95.00) on shares of Target in a report on Wednesday. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $128.13.

Target Price Performance

NYSE:TGT traded up $1.49 during mid-day trading on Friday, reaching $98.56. The stock had a trading volume of 6,355,230 shares, compared to its average volume of 5,906,992. The stock has a 50-day simple moving average of $98.24 and a two-hundred day simple moving average of $121.85. The stock has a market capitalization of $44.78 billion, a PE ratio of 10.45, a P/E/G 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. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.55%. Target's payout ratio is presently 50.56%.

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.