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

Westhampton Capital LLC bought a new stake in Target Co. (NYSE:TGT) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,150 shares of the retailer’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. Larson Financial Group LLC boosted its position in shares of Target by 1.3% during 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. grew its position in shares of Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after purchasing an additional 70 shares in the last quarter. Welch & Forbes LLC boosted its stake in Target by 0.9% during the fourth quarter. Welch & Forbes LLC now owns 7,715 shares of the retailer’s stock valued at $1,099,000 after buying an additional 71 shares during the period. Beacon Financial Advisory LLC boosted its stake in Target by 1.0% during the fourth quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after buying an additional 72 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its stake in Target by 4.1% during the first quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock worth $328,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 0.5 %

Shares of NYSE TGT traded down $0.70 on Tuesday, hitting $145.04. The company had a trading volume of 1,364,853 shares, compared to its average volume of 3,918,175. The firm has a market capitalization of $67.10 billion, a P/E ratio of 16.36, a PEG 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. 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 business has a 50 day moving average of $152.97 and a two-hundred day moving average of $153.33.

Target (NYSE:TGT) last posted its 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). The business 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 firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, equities research analysts forecast that Target Co. will post 9.32 earnings per share 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 given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research analyst reports. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, May 7th. Evercore ISI boosted their price objective on Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. HSBC raised Target from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $195.00 in a report on Wednesday, March 6th. BMO Capital Markets decreased their price target on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Finally, StockNews.com downgraded Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.