Bank of The West cut its stake in shares of Target Co. (NYSE:TGT) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,883 shares of the retailer’s stock after selling 744 shares during the period. Bank of The West’s holdings in Target were worth $449,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Heritage Trust Co lifted its position in Target by 129.7% during the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after acquiring an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in Target by 2,200.0% during the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after acquiring an additional 1,826 shares during the last quarter. Security Asset Management acquired a new stake in Target during the fourth quarter worth approximately $115,000. First Mercantile Trust Co. acquired a new stake in Target during the fourth quarter worth approximately $124,000. Finally, Jacobi Capital Management LLC lifted its position in Target by 109.8% during the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after acquiring an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
TGT has been the subject of several research reports. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Vetr downgraded shares of Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price target for the company. in a research report on Wednesday, November 29th. MKM Partners began coverage on shares of Target in a research report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price target for the company. Sanford C. Bernstein set a $65.00 price target on shares of Target and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Barclays upgraded shares of Target from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $45.00 to $70.00 in a research report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $67.64.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. equities analysts anticipate that Target Co. will post 4.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be paid a $0.62 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a yield of 3.42%. Target’s dividend payout ratio (DPR) is 52.10%.
In related news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The disclosure for this sale can be found here. Insiders sold 16,262 shares of company stock worth $1,185,484 over the last three months. 0.25% of the stock is currently owned by insiders.
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Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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