Hoxton Planning & Management LLC Buys Shares of 1,453 Target Co. (NYSE:TGT)

Hoxton Planning & Management LLC bought a new stake in Target Co. (NYSE:TGT) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,453 shares of the retailer’s stock, valued at approximately $257,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DLK Investment Management LLC increased its holdings in Target by 14.2% in the first quarter. DLK Investment Management LLC now owns 20,711 shares of the retailer’s stock valued at $3,670,000 after buying an additional 2,575 shares in the last quarter. Community Bank of Raymore purchased a new position in Target in the first quarter valued at about $429,000. Riverview Trust Co increased its stake in shares of Target by 1.6% during the 1st quarter. Riverview Trust Co now owns 7,746 shares of the retailer’s stock worth $1,373,000 after purchasing an additional 125 shares in the last quarter. Annex Advisory Services LLC purchased a new position in shares of Target during the 1st quarter worth approximately $200,000. Finally, Austin Private Wealth LLC increased its stake in shares of Target by 12.3% during the 1st quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock worth $308,000 after purchasing an additional 193 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

Shares of TGT remained flat at $146.77 during midday trading on Wednesday. 839,762 shares of the stock traded hands, compared to its average volume of 3,876,616. The firm has a 50 day moving average price of $154.11 and a 200 day moving average price of $153.11. The stock has a market cap of $67.90 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.20. Target Co. has a one year low of $102.93 and a one year high of $181.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.05%. Target’s payout ratio is 49.38%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Bank of America raised their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. HSBC upgraded shares of Target from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Stifel Nicolaus lifted their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.61.

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.