Webster Bank N. A. lessened its stake in shares of Target Co. (NYSE:TGT – Free Report) 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.
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.
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.
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