Syon Capital LLC Takes Position in Target Co. (NYSE:TGT)

Syon Capital LLC acquired a new stake in Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,630 shares of the retailer’s stock, valued at approximately $802,000.

Several other large investors have also modified their holdings of TGT. United Services Automobile Association increased its position in shares of Target by 2.9% in the third quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock valued at $4,891,000 after buying an additional 1,239 shares in the last quarter. RFG Advisory LLC purchased a new position in Target during the fourth quarter worth approximately $605,000. Tower View Wealth Management LLC raised its position in shares of Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares during the period. Nordea Investment Management AB raised its holdings in shares of Target by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock worth $73,819,000 after purchasing an additional 24,066 shares during the period. Finally, Asio Capital LLC lifted its holdings in shares of Target by 109.9% during the 4th quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock valued at $3,883,000 after acquiring an additional 14,274 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE:TGT traded up $0.30 during trading on Friday, reaching $164.74. The stock had a trading volume of 2,057,248 shares, compared to its average volume of 3,695,363. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The business’s 50-day moving average price is $165.21 and its 200 day moving average price is $142.61. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The stock has a market capitalization of $76.06 billion, a PE ratio of 18.56, a P/E/G ratio of 1.55 and a beta of 1.14.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter in the previous year, the company posted $1.89 EPS. Target’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Wells Fargo & Company upped their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Gordon Haskett increased their price target on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised Target from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $206.00 in a report on Wednesday, March 6th. Finally, Evercore ISI reduced their price objective on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 in the last quarter. Company insiders own 0.23% of the company’s stock.

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.