Washington Trust Bank Cuts Holdings in Target Co. (NYSE:TGT)

Washington Trust Bank lowered its stake in shares of Target Co. (NYSE:TGT) by 13.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,309 shares of the retailer’s stock after selling 201 shares during the period. Washington Trust Bank’s holdings in Target were worth $204,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TGT. Norden Group LLC boosted its stake in shares of Target by 17.2% in the 1st quarter. Norden Group LLC now owns 2,229 shares of the retailer’s stock worth $395,000 after buying an additional 327 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Target in the 1st quarter worth $248,000. Advisory Alpha LLC purchased a new position in shares of Target in the 1st quarter worth $237,000. Advisory Services Network LLC boosted its stake in shares of Target by 0.8% in the 1st quarter. Advisory Services Network LLC now owns 19,152 shares of the retailer’s stock worth $3,394,000 after buying an additional 155 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Target by 110.1% in the 1st quarter. Empowered Funds LLC now owns 50,963 shares of the retailer’s stock worth $9,031,000 after buying an additional 26,711 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Stifel Nicolaus raised their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Performance

Shares of Target stock opened at $150.91 on Friday. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock’s fifty day moving average price is $152.52 and its 200-day moving average price is $150.96. The firm has a market cap of $69.52 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.80 EPS. On average, equities research analysts expect that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Target 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.