Mechanics Bank Trust Department Has $2.80 Million Stake in Target Co. (NYSE:TGT)

Mechanics Bank Trust Department lowered its holdings in shares of Target Co. (NYSE:TGTFree Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,772 shares of the retailer’s stock after selling 1,901 shares during the period. Mechanics Bank Trust Department’s holdings in Target were worth $2,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rathbones Group PLC grew its stake in shares of Target by 63.5% in the 3rd quarter. Rathbones Group PLC now owns 3,090 shares of the retailer’s stock valued at $342,000 after purchasing an additional 1,200 shares during the period. Acadian Asset Management LLC raised its stake in Target by 145.1% during the third quarter. Acadian Asset Management LLC now owns 22,564 shares of the retailer’s stock worth $2,493,000 after acquiring an additional 13,358 shares in the last quarter. LPL Financial LLC raised its stake in Target by 2.2% during the third quarter. LPL Financial LLC now owns 555,617 shares of the retailer’s stock worth $61,380,000 after acquiring an additional 11,715 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Target by 87.8% during the third quarter. Federated Hermes Inc. now owns 100,475 shares of the retailer’s stock valued at $11,110,000 after acquiring an additional 46,984 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Target by 143.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 26,433 shares of the retailer’s stock valued at $2,923,000 after purchasing an additional 15,597 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TGT. Jefferies Financial Group lifted their price target on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. HSBC upgraded Target from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $195.00 in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Tigress Financial lifted their price target on Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company upped their price target on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Target currently has an average rating of “Moderate Buy” and a consensus price target of $177.61.

View Our Latest Analysis on TGT

Target Stock Down 1.7 %

Shares of NYSE TGT traded down $2.51 during mid-day trading on Tuesday, reaching $147.18. 1,410,209 shares of the company’s stock were exchanged, compared to its average volume of 3,886,247. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $68.09 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.37 and a beta of 1.20. The business has a fifty day simple moving average of $154.45 and a 200 day simple moving average of $153.02.

Target (NYSE:TGTGet Free Report) last posted its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.05 earnings per share. As a group, equities analysts expect that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is 49.38%.

About Target

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Target (NYSE:TGT)

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