Rayburn West Financial Services LLC Acquires New Holdings in Target Corporation $TGT

Rayburn West Financial Services LLC bought a new stake in Target Corporation (NYSE:TGT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,761 shares of the retailer’s stock, valued at approximately $3,887,000. Target comprises approximately 2.1% of Rayburn West Financial Services LLC’s portfolio, making the stock its 18th biggest holding.

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

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

Analysts Set New Price Targets

A number of analysts have weighed in on TGT shares. Guggenheim boosted their price target on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Roth Capital reissued a “neutral” rating and set a $114.00 price objective on shares of Target in a report on Friday, May 22nd. Argus set a $150.00 price objective on Target in a report on Friday, May 22nd. Oppenheimer raised their price objective on Target from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada boosted their target price on Target from $153.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.85.

Target Stock Performance

Shares of TGT opened at $152.63 on Wednesday. The company has a market capitalization of $69.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a one year low of $83.44 and a one year high of $156.47. The company’s fifty day moving average price is $139.08 and its 200 day moving average price is $126.98.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. The company 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 business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, analysts expect that Target Corporation will post 8.43 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 61.29%.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

Target Company 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.