Hoylecohen LLC Sells 870 Shares of Target Co. (NYSE:TGT)

Hoylecohen LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 21.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,122 shares of the retailer’s stock after selling 870 shares during the quarter. Hoylecohen LLC’s holdings in Target were worth $462,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. raised its position in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares during the period. Larson Financial Group LLC lifted its stake in Target by 1.3% in the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock worth $760,000 after purchasing an additional 70 shares during the last quarter. Godshalk Welsh Capital Management Inc. boosted its position in Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after buying an additional 70 shares during the period. Finally, Haverford Trust Co grew its stake in shares of Target by 0.3% during the first quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock valued at $4,868,000 after buying an additional 70 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.7 %

Target stock traded up $2.38 during trading hours on Friday, hitting $144.04. The stock had a trading volume of 3,473,906 shares, compared to its average volume of 3,887,753. The stock’s 50-day moving average price is $145.21 and its 200-day moving average price is $154.30. Target Co. has a 12-month low of $102.93 and a 12-month 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 $66.64 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share 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 firm 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 firm earned $2.05 earnings per share. Target’s revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed 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 yield of 3.11%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BNP Paribas began coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. Wells Fargo & Company dropped their price objective on Target from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley cut their target price on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. UBS Group lowered their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Target from $165.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $174.57.

About Target

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.