Oxbow Advisors LLC Invests $515,000 in Target Corporation $TGT

Oxbow Advisors LLC bought a new position in shares of Target Corporation (NYSE:TGT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,942 shares of the retailer’s stock, valued at approximately $515,000.

A number of other large investors have also added to or reduced their stakes in the business. Wealthfront Advisers LLC acquired a new stake in Target during the 2nd quarter valued at $14,767,000. Foster & Motley Inc. bought a new position in Target during the second quarter worth $5,717,000. Main Street Financial Solutions LLC boosted its position in Target by 2.9% during the second quarter. Main Street Financial Solutions LLC now owns 4,789 shares of the retailer’s stock worth $625,000 after purchasing an additional 135 shares during the period. Rayburn West Financial Services LLC acquired a new position in shares of Target in the second quarter valued at $3,887,000. Finally, First National Bank of Omaha acquired a new position in shares of Target in the second quarter valued at $3,535,000. Institutional investors 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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TGT. Royal Bank Of Canada raised their target price on shares of Target from $153.00 to $166.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Telsey Advisory Group upped their price target on shares of Target from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday. Argus set a $150.00 price target on shares of Target in a report on Friday, May 22nd. Truist Financial raised their price objective on shares of Target from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Barclays restated an “underweight” rating on shares of Target in a research report on Monday, June 1st. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $143.85.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Target Stock Performance

TGT opened at $152.63 on Wednesday. The firm has a market cap of $69.32 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The business’s fifty day moving average is $139.08 and its 200-day moving average is $126.98.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Target’s revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts expect that Target Corporation will post 8.43 EPS for the current fiscal year.

Target Increases Dividend

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