Stock Yards Bank & Trust Co. trimmed its position in shares of Target Co. (NYSE:TGT) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,535 shares of the retailer’s stock after selling 300 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Target were worth $1,006,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Target by 62.2% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after buying an additional 140 shares during the period. Phocas Financial Corp. purchased a new position in shares of Target in the 4th quarter valued at about $25,000. Loeb Partners Corp purchased a new position in shares of Target in the 4th quarter valued at about $28,000. CI Investments Inc. purchased a new position in shares of Target in the 4th quarter valued at about $27,000. Finally, Lindbrook Capital LLC purchased a new position in shares of Target in the 4th quarter valued at about $32,000. Institutional investors own 83.89% of the company’s stock.
Target stock opened at $83.26 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The company has a market capitalization of $42.99 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.07%. Target’s payout ratio is 47.50%.
TGT has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Target from $70.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Friday, March 8th. Standpoint Research upgraded Target from a “hold” rating to a “buy” rating and set a $62.30 target price for the company in a research note on Wednesday, December 26th. Telsey Advisory Group restated an “outperform” rating and set a $86.00 target price (down previously from $100.00) on shares of Target in a research note on Monday, January 7th. Finally, Evercore ISI initiated coverage on Target in a research report on Wednesday, March 20th. They set an “in-line” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $87.44.
In other Target news, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total transaction of $410,627.48. Following the sale, the insider now directly owns 77,550 shares in the company, valued at $6,140,409. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the sale, the insider now owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,977 shares of company stock worth $2,774,409. 0.19% of the stock is owned by company insiders.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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