Islay Capital Management LLC Sells 8,996 Shares of Target Co. (NYSE:TGT)

Islay Capital Management LLC cut its position in shares of Target Co. (NYSE:TGT) by 74.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,118 shares of the retailer’s stock after selling 8,996 shares during the period. Islay Capital Management LLC’s holdings in Target were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Savoir Faire Capital Management L.P. grew its holdings in Target by 78.1% during the 4th quarter. Savoir Faire Capital Management L.P. now owns 66,033 shares of the retailer’s stock worth $8,926,000 after acquiring an additional 28,951 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Target during the fourth quarter valued at approximately $839,000. Pitcairn Co. raised its stake in Target by 13.4% in the fourth quarter. Pitcairn Co. now owns 6,847 shares of the retailer’s stock worth $926,000 after buying an additional 807 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Target during the fourth quarter worth $378,000. Finally, World Investment Advisors boosted its position in Target by 12.5% during the 4th quarter. World Investment Advisors now owns 7,408 shares of the retailer’s stock valued at $1,001,000 after acquiring an additional 823 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock opened at $95.70 on Friday. The company has a market capitalization of $43.60 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.28. Target Co. has a 12-month low of $90.62 and a 12-month high of $173.05. The business’s 50 day moving average is $119.41 and its two-hundred day moving average is $134.85. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) 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 analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts expect 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 will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.68%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TGT shares. Telsey Advisory Group decreased their price objective on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Truist Financial dropped their target price on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.24.

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.