Hoylecohen LLC Decreases Position in Target Co. (NYSE:TGT)

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

Other large investors have also modified their holdings of the company. Washington Trust Advisors Inc. boosted its holdings in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its position in shares of Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after buying an additional 68 shares during the last quarter. Larson Financial Group LLC boosted its holdings 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 buying an additional 70 shares in the last quarter. Godshalk Welsh Capital Management Inc. grew its position in shares of Target by 0.9% in the 4th 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 last quarter. Finally, Haverford Trust Co raised its stake in Target by 0.3% during the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on Target from $165.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Truist Financial raised their price target on Target from $153.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada cut their price objective on shares of Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Wells Fargo & Company cut their target price on Target from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley decreased their price target on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.57.

Target Price Performance

TGT stock traded up $2.38 during trading 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 has a market cap of $66.64 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The company’s 50 day moving average price is $145.21 and its two-hundred day moving average price is $154.30. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86.

Target (NYSE:TGT) last posted 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). The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. On average, sell-side analysts forecast that Target Co. will post 9.31 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. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

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.