Webster Bank N. A. Sells 701 Shares of Target Co. (NYSE:TGT)

Webster Bank N. A. lessened its stake in shares of Target Co. (NYSE:TGT) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,984 shares of the retailer’s stock after selling 701 shares during the period. Webster Bank N. A.’s holdings in Target were worth $789,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in Target by 3,577.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after acquiring an additional 1,431 shares in the last quarter. Zions Bancorporation N.A. increased its position in Target by 3.3% during the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock valued at $646,000 after acquiring an additional 96 shares during the last quarter. Covestor Ltd increased its position in Target by 131.7% during the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock valued at $149,000 after acquiring an additional 399 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Target in the 1st quarter worth about $208,000. Finally, Ergoteles LLC grew its holdings in Target by 191.5% during the 1st quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after purchasing an additional 7,748 shares during the last quarter. 78.33% of the stock is owned by institutional investors.

Target Trading Up 1.1 %

TGT stock traded up $1.28 during mid-day trading on Tuesday, hitting $120.62. 2,275,942 shares of the company were exchanged, compared to its average volume of 4,384,140. The company has a quick ratio of 0.18, a current ratio of 0.83 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $55.68 billion, a P/E ratio of 16.44, a PEG ratio of 1.15 and a beta of 1.01. The business has a fifty day simple moving average of $129.09 and a 200-day simple moving average of $142.93. Target Co. has a 12-month low of $118.55 and a 12-month high of $181.70.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.39. Target had a return on equity of 29.43% and a net margin of 3.12%. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same period last year, the business posted $0.39 earnings per share. Target’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Target Co. will post 7.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 30,000 shares of Target stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the completion of the sale, the insider now directly owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on TGT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $161.00 target price on shares of Target in a research note on Thursday, August 17th. Wells Fargo & Company decreased their price objective on Target from $165.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. Piper Sandler dropped their target price on shares of Target from $220.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, August 14th. Stifel Nicolaus cut their target price on shares of Target from $175.00 to $160.00 and set a “hold” rating on the stock in a research report on Monday, August 14th. Finally, BMO Capital Markets dropped their price objective on shares of Target from $140.00 to $130.00 and set a “market perform” rating on the stock in a research note on Thursday, August 17th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $159.21.

About Target

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.