First Western Trust Bank Purchases New Stake in Target Co. (NYSE:TGT)

First Western Trust Bank acquired a new position in Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,039 shares of the retailer’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC grew its holdings in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Rakuten Securities Inc. bought a new position in shares of Target during the 4th quarter worth $29,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Target in the 4th quarter worth about $33,000. Friedenthal Financial bought a new stake in Target in the 4th quarter valued at about $45,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Target during the fourth quarter worth about $49,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Up 3.0 %

Shares of NYSE TGT traded up $4.75 during midday trading on Thursday, reaching $164.34. The company had a trading volume of 2,537,731 shares, compared to its average volume of 3,663,545. The firm’s fifty day moving average price is $166.96 and its 200-day moving average price is $146.00. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a one year low of $102.93 and a one year high of $181.86. The stock has a market cap of $76.03 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The firm had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.68%. Target’s dividend payout ratio is presently 49.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Roth Mkm upped their price target on shares of Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Tigress Financial lifted their price target on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. BMO Capital Markets increased their price objective on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. TheStreet raised Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Finally, Truist Financial increased their price target on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by company insiders.

Target Company 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.