WASHINGTON TRUST Co Boosts Position in Target Co. (NYSE:TGT)

WASHINGTON TRUST Co boosted its holdings in shares of Target Co. (NYSE:TGT) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,196 shares of the retailer’s stock after acquiring an additional 172 shares during the period. WASHINGTON TRUST Co’s holdings in Target were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Tower View Wealth Management LLC grew its holdings in Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Sittner & Nelson LLC raised its position in Target by 150.6% during the 2nd quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock worth $28,000 after buying an additional 128 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in Target during the 2nd quarter worth approximately $31,000. Penserra Capital Management LLC purchased a new position in Target during the 4th quarter worth approximately $35,000. Finally, Kenfarb & CO. raised its position in Target by 81.3% during the 2nd quarter. Kenfarb & CO. now owns 290 shares of the retailer’s stock worth $38,000 after buying an additional 130 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Telsey Advisory Group lifted their target price on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Truist Financial lifted their target price on shares of Target from $142.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.73.

Target Trading Up 0.9 %

Shares of TGT stock traded up $1.56 on Thursday, reaching $176.23. 1,487,091 shares of the stock were exchanged, compared to its average volume of 3,909,696. The stock has a 50 day moving average price of $153.23 and a 200 day moving average price of $134.36. The stock has a market cap of $81.36 billion, a PE ratio of 19.56, a P/E/G ratio of 1.62 and a beta of 1.13. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a one year low of $102.93 and a one year high of $176.33.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. Equities research analysts forecast that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.50%. Target’s dividend payout ratio is presently 49.27%.

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.