Hexagon Capital Partners LLC Increases Position in Target Co. (NYSE:TGT)

Hexagon Capital Partners LLC boosted its holdings in shares of Target Co. (NYSE:TGTGet Rating) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,720 shares of the retailer’s stock after purchasing an additional 82 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Target were worth $577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TGT. Sound Income Strategies LLC increased its holdings in shares of Target by 12.2% in the 4th quarter. Sound Income Strategies LLC now owns 423 shares of the retailer’s stock valued at $98,000 after purchasing an additional 46 shares in the last quarter. Atwood & Palmer Inc. increased its holdings in Target by 35.1% in the fourth quarter. Atwood & Palmer Inc. now owns 181 shares of the retailer’s stock valued at $42,000 after buying an additional 47 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of Target by 18.5% during the 4th quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock valued at $70,000 after acquiring an additional 47 shares during the period. Cypress Capital LLC lifted its position in shares of Target by 0.8% during the 4th quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock valued at $1,344,000 after acquiring an additional 47 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its stake in shares of Target by 3.1% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 1,612 shares of the retailer’s stock worth $373,000 after acquiring an additional 48 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors.

In other news, insider Michael J. Fiddelke sold 5,000 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $210.19, for a total value of $1,050,950.00. Following the sale, the insider now owns 31,130 shares in the company, valued at approximately $6,543,214.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John J. Mulligan sold 45,490 shares of Target stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $139.98, for a total value of $6,367,690.20. Following the completion of the transaction, the insider now owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,694 shares of company stock worth $14,055,746. 0.29% of the stock is currently owned by corporate insiders.

TGT opened at $140.81 on Thursday. Target Co. has a twelve month low of $138.58 and a twelve month high of $268.98. The firm has a market cap of $65.29 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.62 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $190.88 and a 200 day simple moving average of $209.86.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion during the quarter, compared to analysts’ expectations of $24.48 billion. During the same period in the previous year, the company earned $3.69 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that Target Co. will post 8.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Tuesday, August 16th. This is an increase from Target’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 3.07%. Target’s payout ratio is currently 29.85%.

A number of analysts have commented on the company. The Goldman Sachs Group decreased their target price on Target from $191.00 to $171.00 and set a “buy” rating on the stock in a research report on Wednesday, June 8th. MKM Partners decreased their price objective on shares of Target from $253.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Target from $227.00 to $198.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Citigroup cut their target price on shares of Target from $188.00 to $184.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Finally, Raymond James reduced their price target on Target from $205.00 to $190.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, June 8th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.81.

About Target (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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