Mayfair Advisory Group LLC Makes New Investment in Target Co. (NYSE:TGT)

Mayfair Advisory Group LLC purchased a new stake in Target Co. (NYSE:TGT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,478 shares of the retailer’s stock, valued at approximately $262,000.

Several other hedge funds also recently modified their holdings of TGT. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target during the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new stake in Target during the 4th quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new position in Target in the 4th quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Target during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 0.9 %

Shares of Target stock traded up $1.32 during trading hours on Friday, reaching $148.04. The company’s stock had a trading volume of 12,772,526 shares, compared to its average volume of 3,818,235. The company has a market capitalization of $68.49 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.39 and a beta of 1.20. The stock’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $153.33. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. On average, research analysts forecast that Target Co. will post 9.32 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 given a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TGT. HSBC upgraded Target from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Roth Mkm reissued a “neutral” rating and issued a $153.00 price target on shares of Target in a research note on Thursday, May 23rd. Gordon Haskett lifted their price objective on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. UBS Group decreased their target price on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, Guggenheim boosted their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.61.

Target 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.