Oxbow Advisors LLC Takes $515,000 Position in Target Corporation $TGT

Oxbow Advisors LLC acquired a new position in shares of Target Corporation (NYSE:TGT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,942 shares of the retailer’s stock, valued at approximately $515,000.

Other hedge funds have also modified their holdings of the company. WFA of San Diego LLC bought a new stake in Target in the 2nd quarter valued at approximately $25,000. Jessup Wealth Management Inc acquired a new position in Target during the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Target during the 4th quarter worth approximately $26,000. MidFirst Bank bought a new position in shares of Target during the 4th quarter worth approximately $31,000. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock valued at $33,000 after purchasing an additional 194 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Trending Headlines about Target

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Wall Street Analyst Weigh In

A number of analysts have recently commented on TGT shares. Telsey Advisory Group boosted their price objective on shares of Target from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays reaffirmed an “underweight” rating on shares of Target in a research report on Monday, June 1st. Zacks Research upgraded shares of Target from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Oppenheimer boosted their price target on shares of Target from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Evercore set a $150.00 price objective on shares of Target in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $143.85.

Target Price Performance

NYSE:TGT opened at $152.63 on Wednesday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $156.47. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $139.08 and a 200 day simple moving average of $126.98. The stock has a market capitalization of $69.32 billion, a PE ratio of 20.16, a P/E/G ratio of 2.51 and a beta of 0.96.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, research analysts expect that Target Corporation will post 8.43 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.0%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is presently 61.29%.

Insider Buying and Selling at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.