Atlantic Union Bankshares Corp Sells 5,023 Shares of Target Co. (NYSE:TGT)

Atlantic Union Bankshares Corp reduced its position in shares of Target Co. (NYSE:TGT) by 57.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,767 shares of the retailer’s stock after selling 5,023 shares during the period. Atlantic Union Bankshares Corp’s holdings in Target were worth $668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Target during the 4th quarter valued at $29,000. Private Wealth Management Group LLC bought a new position in shares of Target during the 4th quarter worth $29,000. Scarborough Advisors LLC purchased a new stake in Target in the 4th quarter worth about $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Target in the 4th quarter valued at about $33,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE TGT traded up $1.42 during trading hours on Friday, reaching $148.14. 12,772,387 shares of the stock traded hands, compared to its average volume of 3,949,080. The company’s 50-day simple moving average is $152.97 and its two-hundred day simple moving average is $153.10. The company has a market capitalization of $68.54 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same period last year, the business posted $2.05 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.02%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is presently 50.28%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Morgan Stanley reduced their price objective on shares of Target from $190.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. Royal Bank of Canada reduced their price target on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Tigress Financial boosted their price objective on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.61.

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.