First Financial Bank Trust Division reduced its position in Target Co. (NYSE:TGT) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,017 shares of the retailer’s stock after selling 1,397 shares during the period. Target accounts for about 1.4% of First Financial Bank Trust Division’s investment portfolio, making the stock its 24th biggest position. First Financial Bank Trust Division’s holdings in Target were worth $12,085,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in TGT. Alpha DNA Investment Management LLC purchased a new stake in shares of Target during the 4th quarter worth approximately $52,000. IronBridge Private Wealth LLC bought a new stake in Target in the fourth quarter worth $28,000. Curi Capital purchased a new stake in Target during the fourth quarter valued at $191,000. SOA Wealth Advisors LLC. bought a new position in Target during the fourth quarter valued at $162,000. Finally, Peterson Wealth Management grew its stake in shares of Target by 29.8% in the 4th quarter. Peterson Wealth Management now owns 4,300 shares of the retailer’s stock worth $759,000 after buying an additional 986 shares in the last quarter. 79.17% of the stock is owned by institutional investors.
In other Target news, insider Stephanie A. Lundquist sold 16,894 shares of the stock in a transaction dated Thursday, January 14th. The shares were sold at an average price of $198.34, for a total transaction of $3,350,755.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert M. Harrison sold 2,282 shares of the firm’s stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $192.45, for a total transaction of $439,170.90. Following the completion of the sale, the chief accounting officer now owns 6,265 shares in the company, valued at $1,205,699.25. The disclosure for this sale can be found here. Insiders sold 21,028 shares of company stock valued at $4,128,843 in the last three months. 0.52% of the stock is currently owned by insiders.
Target (NYSE:TGT) last issued its earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.13. Target had a net margin of 4.31% and a return on equity of 34.94%. The company had revenue of $28 billion for the quarter, compared to analysts’ expectations of $27.42 billion. During the same period in the prior year, the business earned $1.69 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts expect that Target Co. will post 9.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s payout ratio is 42.57%.
A number of research analysts recently commented on the stock. BMO Capital Markets increased their price target on shares of Target from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, March 9th. Cowen lifted their target price on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Robert W. Baird decreased their price target on Target from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, March 9th. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research note on Friday, March 5th. Finally, Guggenheim raised shares of Target from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Monday, March 15th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $180.90.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target CafÃ©, Target Optical, Starbucks, and other food service offerings.
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