Park Place Capital Corp Sells 214 Shares of Target Co. (NYSE:TGT)

Park Place Capital Corp decreased its position in Target Co. (NYSE:TGT) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,570 shares of the retailer’s stock after selling 214 shares during the quarter. Park Place Capital Corp’s holdings in Target were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TGT. RFG Advisory LLC bought a new position in shares of Target during the fourth quarter valued at $605,000. Little House Capital LLC purchased a new position in shares of Target during the 1st quarter valued at about $1,041,000. Nordea Investment Management AB lifted its position in shares of Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after buying an additional 6,690 shares in the last quarter. Finally, Janney Capital Management LLC bought a new stake in Target during the 1st quarter valued at approximately $13,958,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT traded down $4.90 during mid-day trading on Monday, reaching $134.27. The company had a trading volume of 4,114,054 shares, compared to its average volume of 3,863,349. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $62.12 billion, a P/E ratio of 15.14, a PEG ratio of 1.38 and a beta of 1.19. The stock has a 50 day moving average of $147.70 and a two-hundred day moving average of $154.67.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $190.00 target price on shares of Target in a research note on Thursday, May 23rd. Morgan Stanley reduced their price objective on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Truist Financial lifted their price objective on Target from $153.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday. Evercore ISI lifted their target price on Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. dropped their target price on Target from $165.00 to $153.00 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.54.

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.