Westhampton Capital LLC Makes New Investment in Target Co. (NYSE:TGT)

Westhampton Capital LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,150 shares of the retailer’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC boosted its stake in shares of Target by 1.3% in the 4th quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after purchasing an additional 70 shares in the last quarter. Godshalk Welsh Capital Management Inc. raised its holdings in Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after purchasing an additional 70 shares in the last quarter. Welch & Forbes LLC grew its stake in shares of Target by 0.9% in the 4th quarter. Welch & Forbes LLC now owns 7,715 shares of the retailer’s stock worth $1,099,000 after buying an additional 71 shares during the last quarter. Beacon Financial Advisory LLC grew its position in Target by 1.0% during the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after purchasing an additional 72 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in Target by 4.1% during the 1st quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock valued at $328,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock traded down $0.70 on Tuesday, reaching $145.04. The stock had a trading volume of 1,364,853 shares, compared to its average volume of 3,918,175. 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 firm’s 50-day moving average is $152.97 and its two-hundred day moving average is $153.33. The firm has a market capitalization of $67.10 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.39 and a beta of 1.19. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (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 business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts expect that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.09%. Target’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TGT. Royal Bank of Canada reduced their target price on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Stifel Nicolaus raised their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Truist Financial dropped their price objective on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research report on Thursday, May 23rd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $190.00 price target on shares of Target in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus price target of $177.61.

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.