Hexagon Capital Partners LLC Sells 406 Shares of Target Co. (NYSE:TGT)

Hexagon Capital Partners LLC decreased its stake in shares of Target Co. (NYSE:TGT) by 28.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,012 shares of the retailer’s stock after selling 406 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Target were worth $179,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TGT. Miracle Mile Advisors LLC boosted its holdings in shares of Target by 17.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,117 shares of the retailer’s stock valued at $552,000 after purchasing an additional 472 shares during the last quarter. Little House Capital LLC purchased a new position in Target during the 1st quarter valued at approximately $1,041,000. BKM Wealth Management LLC increased its stake in Target by 8.5% in the 1st quarter. BKM Wealth Management LLC now owns 7,178 shares of the retailer’s stock worth $1,272,000 after acquiring an additional 561 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Target by 38.5% during the 1st quarter. Diversified Trust Co now owns 24,089 shares of the retailer’s stock worth $4,269,000 after acquiring an additional 6,691 shares in the last quarter. Finally, Chapin Davis Inc. boosted its position in shares of Target by 6.7% during the 1st quarter. Chapin Davis Inc. now owns 4,856 shares of the retailer’s stock valued at $861,000 after acquiring an additional 304 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI increased their price target on shares of Target from $165.00 to $166.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, May 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Wednesday, May 22nd. Finally, DA Davidson raised their target price on shares of Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.61.

Target Stock Down 1.6 %

TGT stock opened at $145.74 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm’s fifty day simple moving average is $152.97 and its 200-day simple moving average is $153.33. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a market capitalization of $67.43 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.07%. Target’s dividend payout ratio (DPR) is presently 49.38%.

Target Company 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.