Prana Capital Management LP Has $33.83 Million Stock Position in Target Co. (NYSE:TGT)

Prana Capital Management LP raised its stake in Target Co. (NYSE:TGT) by 47.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,081 shares of the retailer’s stock after acquiring an additional 69,885 shares during the quarter. Target comprises approximately 1.5% of Prana Capital Management LP’s investment portfolio, making the stock its 21st biggest holding. Prana Capital Management LP’s holdings in Target were worth $33,834,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cynosure Group LLC boosted its position in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the last quarter. Financial Advocates Investment Management increased its position in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp raised its holdings in Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC lifted its position in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. boosted its stake in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Price Performance

NYSE:TGT opened at $131.38 on Wednesday. The firm’s fifty day moving average price is $147.88 and its two-hundred day moving average price is $148.04. 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 company has a market cap of $60.20 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.14 and a beta of 1.17. Target Co. has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the company posted $2.10 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 47.51%.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TGT. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Citigroup cut shares of Target from a “buy” rating to a “neutral” rating and cut their price objective for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $160.30.

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.