Focus Financial Network Inc. Reduces Stock Holdings in Target Co. (NYSE:TGT)

Focus Financial Network Inc. reduced its holdings in shares of Target Co. (NYSE:TGT) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,541 shares of the retailer’s stock after selling 981 shares during the quarter. Focus Financial Network Inc.’s holdings in Target were worth $6,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Hobbs Group Advisors LLC acquired a new position in shares of Target in the second quarter valued at approximately $31,000. Sanibel Captiva Trust Company Inc. boosted its holdings in shares of Target by 2.7% during the second quarter. Sanibel Captiva Trust Company Inc. now owns 58,370 shares of the retailer’s stock worth $8,641,000 after purchasing an additional 1,520 shares during the last quarter. Cidel Asset Management Inc. increased its stake in Target by 4.4% in the second quarter. Cidel Asset Management Inc. now owns 5,931 shares of the retailer’s stock valued at $878,000 after purchasing an additional 249 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Target by 27.6% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,778 shares of the retailer’s stock valued at $1,183,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Dakota Wealth Management boosted its position in shares of Target by 8.7% in the second quarter. Dakota Wealth Management now owns 36,393 shares of the retailer’s stock worth $5,388,000 after acquiring an additional 2,928 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TGT shares. UBS Group cut their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Robert W. Baird restated an “outperform” rating and issued a $190.00 price target on shares of Target in a report on Thursday, May 23rd. Royal Bank of Canada lowered their price objective on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets reduced their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.57.

Target Trading Down 0.2 %

Target stock traded down $0.30 during mid-day trading on Tuesday, hitting $144.33. 6,760,974 shares of the stock were exchanged, compared to its average volume of 3,909,097. The stock has a market capitalization of $66.77 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.38 and a beta of 1.19. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm’s fifty day simple moving average is $145.13 and its two-hundred day simple moving average is $154.41.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The company’s revenue was down 3.2% on a year-over-year basis. Analysts forecast that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.10%. Target’s payout ratio is 50.28%.

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.