Target Co. (NYSE:TGT) Stake Lessened by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown cut its stake in shares of Target Co. (NYSE:TGT) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,917 shares of the retailer’s stock after selling 200 shares during the period. Target comprises approximately 0.8% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 22nd largest position. First National Bank & Trust Co. of Newtown’s holdings in Target were worth $4,039,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TGT. Hudson Value Partners LLC bought a new position in Target during the third quarter valued at approximately $204,000. LS Investment Advisors LLC raised its holdings in shares of Target by 1.8% during the 3rd quarter. LS Investment Advisors LLC now owns 15,020 shares of the retailer’s stock valued at $2,341,000 after purchasing an additional 260 shares in the last quarter. Consolidated Planning Corp acquired a new stake in shares of Target in the 3rd quarter valued at $207,000. JB Capital LLC boosted its holdings in Target by 3.1% in the third quarter. JB Capital LLC now owns 20,802 shares of the retailer’s stock worth $3,242,000 after purchasing an additional 629 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its position in Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after buying an additional 4,000 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT stock opened at $150.91 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The firm has a market cap of $69.52 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.93 and a beta of 1.24. The stock has a 50-day moving average price of $152.52 and a 200 day moving average price of $150.96.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect that Target Co. will post 9.54 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of the 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 completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. 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 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TGT shares. Evercore ISI reduced their price target on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Bank of America lifted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, TD Cowen lifted their target price on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

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.