Rayburn West Financial Services LLC Makes New Investment in Target Corporation $TGT

Rayburn West Financial Services LLC acquired a new position in shares of Target Corporation (NYSE:TGT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 29,761 shares of the retailer’s stock, valued at approximately $3,887,000. Target accounts for 2.1% of Rayburn West Financial Services LLC’s portfolio, making the stock its 18th biggest position.

A number of other large investors have also made changes to their positions in TGT. Winning Points Advisors LLC acquired a new stake in Target during the fourth quarter worth $611,000. Franklin Resources Inc. raised its stake in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after buying an additional 142,937 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Target by 41.8% in the 1st quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock valued at $13,453,000 after buying an additional 32,746 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Target in the 1st quarter valued at $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Target during the 4th quarter worth about $27,470,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TGT. Robert W. Baird lifted their target price on shares of Target from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Zacks Research raised shares of Target from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Piper Sandler raised their price target on shares of Target from $127.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore set a $150.00 price objective on Target in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Target from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $143.85.

Insiders Place Their Bets

In other Target 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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Key Stories Impacting 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

Target Stock Up 1.1%

Shares of NYSE:TGT opened at $152.63 on Wednesday. The company’s fifty day moving average is $139.08 and its 200-day moving average is $126.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a 52 week low of $83.44 and a 52 week high of $156.47. The company 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 announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The business had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. Equities research analysts predict that Target Corporation will post 8.43 earnings per share for the current fiscal year.

Target Increases Dividend

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

Target Profile

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.