Chickasaw Capital Management LLC Has $789,000 Stock Holdings in Target Co. (NYSE:TGT)

Chickasaw Capital Management LLC reduced its holdings in shares of Target Co. (NYSE:TGT) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,559 shares of the retailer’s stock after selling 195 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Target were worth $789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nicholas Company Inc. boosted its stake in Target by 20.5% during the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares during the last quarter. River Road Asset Management LLC lifted its holdings in shares of Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Target during the fourth quarter valued at approximately $6,459,000. Sierra Summit Advisors LLC grew its holdings in Target by 29.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock worth $1,940,000 after buying an additional 3,231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Down 0.7%

NYSE:TGT opened at $93.40 on Tuesday. The company has a market cap of $42.44 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.94 and a beta of 1.27. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. 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 stock’s fifty day moving average price is $96.00 and its two-hundred day moving average price is $117.31.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. As a group, analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.80%. Target’s dividend payout ratio is currently 49.23%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Oppenheimer reduced their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company decreased their price objective on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Roth Capital set a $122.00 target price on Target in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $116.68.

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.