First Interstate Bank Sells 139 Shares of Target Co. (NYSE:TGT)

First Interstate Bank reduced its position in shares of Target Co. (NYSE:TGT) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,275 shares of the retailer’s stock after selling 139 shares during the period. First Interstate Bank’s holdings in Target were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TGT. Washington Trust Advisors Inc. boosted its stake in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. raised its holdings in Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC boosted its position in Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the last quarter. Integral Investment Advisors Inc. grew its stake in Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares in the last quarter. Finally, Godshalk Welsh Capital Management Inc. increased its position in shares of Target by 0.9% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after purchasing an additional 70 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 0.5 %

Target stock opened at $150.59 on Tuesday. The firm has a 50 day moving average price of $147.73 and a two-hundred day moving average price of $155.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market cap of $69.37 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.95 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Target Co. will post 9.53 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 paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s payout ratio is 50.28%.

Insiders Place Their Bets

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TGT shares. UBS Group increased their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Royal Bank of Canada boosted their price objective on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Roth Mkm upped their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Stifel Nicolaus lifted their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.68.

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.