Target Co. (NYSE:TGT) Shares Bought by Mechanics Bank Trust Department

Mechanics Bank Trust Department grew its position in Target Co. (NYSE:TGT) by 4.5% during the second quarter, Holdings Channel.com reports. The firm owned 16,482 shares of the retailer’s stock after acquiring an additional 710 shares during the period. Mechanics Bank Trust Department’s holdings in Target were worth $2,440,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TGT. Mirae Asset Global Investments Co. Ltd. raised its position in Target by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,968 shares of the retailer’s stock valued at $11,959,000 after purchasing an additional 1,139 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Target by 15,009.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after purchasing an additional 1,745,459 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Target during the fourth quarter worth $605,000. Allspring Global Investments Holdings LLC grew its position in Target by 22.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 126,934 shares of the retailer’s stock valued at $18,078,000 after buying an additional 23,237 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Target by 119.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 26,387 shares of the retailer’s stock worth $3,758,000 after buying an additional 14,384 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.1 %

Target stock traded up $1.53 during midday trading on Friday, hitting $135.50. 3,778,303 shares of the stock were exchanged, compared to its average volume of 3,882,848. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The company has a 50 day moving average price of $146.19 and a two-hundred day moving average price of $154.49. The firm has a market cap of $62.69 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.38 and a beta of 1.19. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. On average, sell-side analysts predict that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 3.31%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s payout ratio is presently 50.28%.

Analysts Set New Price Targets

TGT has been the topic of a number of analyst reports. Truist Financial lifted their price objective on Target from $153.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Piper Sandler initiated coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.46.

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.