Exeter Financial LLC Has $5.03 Million Stake in Target Co. (NYSE:TGT)

Exeter Financial LLC trimmed its holdings in Target Co. (NYSE:TGT) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,215 shares of the retailer’s stock after selling 495 shares during the period. Target accounts for about 2.3% of Exeter Financial LLC’s portfolio, making the stock its 11th biggest holding. Exeter Financial LLC’s holdings in Target were worth $5,031,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Target in the 4th quarter valued at $28,000. Private Wealth Management Group LLC bought a new stake in shares of Target in the 4th quarter valued at about $29,000. Rakuten Securities Inc. acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Scarborough Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in Target during the 1st quarter worth approximately $38,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Wells Fargo & Company boosted their price objective on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Bank of America upped their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HSBC raised Target from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. Finally, Barclays upped their target price on Target from $142.00 to $169.00 and gave the company an “equal weight” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.61.

Target Stock Down 0.5 %

NYSE:TGT traded down $0.77 during midday trading on Thursday, reaching $146.40. 929,053 shares of the stock traded hands, compared to its average volume of 3,866,417. The stock has a market capitalization of $67.73 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The business has a 50-day moving average of $153.77 and a two-hundred day moving average of $153.06.

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

Target Increases Dividend

The business also recently announced 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. 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 3.06%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is currently 49.38%.

About Target

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.