Field & Main Bank Sells 505 Shares of Target Co. (NYSE:TGT)

Field & Main Bank lowered its position in Target Co. (NYSE:TGT) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,853 shares of the retailer’s stock after selling 505 shares during the quarter. Field & Main Bank’s holdings in Target were worth $1,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter valued at $29,000. Tower View Wealth Management LLC boosted its position in Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Friedenthal Financial bought a new stake in Target during the 4th quarter valued at $45,000. McGlone Suttner Wealth Management Inc. bought a new stake in Target during the 4th quarter valued at $49,000. Finally, MV Capital Management Inc. lifted its holdings in shares of Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on TGT shares. The Goldman Sachs Group increased their price objective on Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised their target price on Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Truist Financial raised their target price on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Gordon Haskett raised their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, DA Davidson raised their target price on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Target Price Performance

TGT stock traded down $1.01 during trading on Monday, hitting $163.73. The stock had a trading volume of 2,737,106 shares, compared to its average volume of 3,683,991. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market capitalization of $75.59 billion, a P/E ratio of 18.33, a PEG ratio of 1.54 and a beta of 1.14. The company’s 50-day moving average price is $165.80 and its two-hundred day moving average price is $143.87.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the previous year, the firm posted $1.89 EPS. Target’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The business 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 dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.27%.

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 transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, 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 a total of 52,600 shares of company stock worth $8,819,598 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.