Grove Bank & Trust Sells 550 Shares of Target Co. (NYSE:TGT)

Grove Bank & Trust cut its stake in shares of Target Co. (NYSE:TGT) by 47.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 607 shares of the retailer’s stock after selling 550 shares during the quarter. Grove Bank & Trust’s holdings in Target were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TGT. Scarborough Advisors LLC acquired a new stake in shares of Target during the fourth quarter valued at about $29,000. Wellington Management Group LLP increased its stake in shares of Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after buying an additional 51,639 shares during the period. SageView Advisory Group LLC bought a new position in shares of Target during the fourth quarter worth about $864,000. Boltwood Capital Management acquired a new position in shares of Target in the first quarter worth approximately $217,000. Finally, First Hawaiian Bank boosted its holdings in Target by 23.5% in the first quarter. First Hawaiian Bank now owns 7,920 shares of the retailer’s stock valued at $1,404,000 after acquiring an additional 1,509 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGT. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. TD Cowen lifted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI upped their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus price target of $179.69.

Insider Transactions at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $160.65 on Wednesday. Target Co. has a one year low of $105.23 and a one year high of $181.86. The company has a market cap of $74.32 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.99 and a beta of 1.24. The firm has a 50-day moving average of $150.88 and a 200-day moving average of $152.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. Equities research analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Target 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.