1ST Source Bank Has $306,000 Stock Holdings in Target Co. (NYSE:TGT)

1ST Source Bank lessened its holdings in Target Co. (NYSE:TGT) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,147 shares of the retailer’s stock after selling 259 shares during the period. 1ST Source Bank’s holdings in Target were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Target in the fourth quarter worth $29,000. Tower View Wealth Management LLC boosted its position 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 last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in Target during the fourth quarter valued at $33,000. Partnership Wealth Management LLC acquired a new stake in Target during the fourth quarter valued at $40,000. Finally, Friedenthal Financial acquired a new stake in Target during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Transactions at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock valued at $8,819,598 in the last three months. 0.23% of the stock is owned by corporate insiders.

Target Price Performance

Shares of TGT stock traded down $2.23 during trading hours on Monday, hitting $160.90. The company had a trading volume of 2,625,093 shares, compared to its average volume of 3,638,705. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm has a market capitalization of $74.44 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.53 and a beta of 1.17. The firm’s fifty day moving average is $167.34 and its 200 day moving average is $147.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. Target’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. On average, sell-side analysts predict that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TGT. Evercore ISI reduced their price objective on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Bank of America lifted their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Oppenheimer lifted their price objective on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Citigroup raised Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 7th. Finally, TheStreet raised Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

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.