Hoey Investments Inc. Has $89,000 Stock Position in Target Co. (NYSE:TGT)

Hoey Investments Inc. lowered its position in shares of Target Co. (NYSE:TGT) by 16.3% in the first quarter, HoldingsChannel reports. The firm owned 849 shares of the retailer’s stock after selling 165 shares during the period. Hoey Investments Inc.’s holdings in Target were worth $89,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in Target in the 4th quarter valued at about $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC boosted its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Target in the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Target in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TGT shares. Wall Street Zen lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Evercore ISI reduced their price objective on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. DA Davidson reduced their price objective on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company cut their price target on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Robert W. Baird set a $100.00 price target on shares of Target in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus price target of $116.70.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Target Stock Down 4.1%

TGT stock opened at $95.25 on Friday. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The business’s 50-day moving average is $95.48 and its two-hundred day moving average is $115.23. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $43.28 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 EPS. As a group, analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is presently 49.23%.

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.