First American Trust FSB Invests $222,000 in Target Co. (NYSE:TGT)

First American Trust FSB bought a new position in shares of Target Co. (NYSE:TGTGet Rating) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,048 shares of the retailer’s stock, valued at approximately $222,000.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Target by 0.5% during the fourth quarter. State Street Corp now owns 35,922,818 shares of the retailer’s stock worth $8,313,977,000 after purchasing an additional 191,484 shares during the period. Capital World Investors boosted its holdings in shares of Target by 22.9% during the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after purchasing an additional 1,666,948 shares during the period. Geode Capital Management LLC raised its stake in Target by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,187,017 shares of the retailer’s stock worth $1,890,357,000 after buying an additional 157,019 shares in the last quarter. Norges Bank bought a new position in Target in the fourth quarter worth about $1,094,330,000. Finally, UBS Asset Management Americas Inc. raised its stake in Target by 1.4% in the third quarter. UBS Asset Management Americas Inc. now owns 3,545,913 shares of the retailer’s stock worth $811,199,000 after buying an additional 47,826 shares in the last quarter. Institutional investors own 81.83% of the company’s stock.

TGT has been the subject of a number of research reports. StockNews.com downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Citigroup decreased their price target on shares of Target from $188.00 to $184.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Guggenheim decreased their target price on shares of Target from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Credit Suisse Group decreased their target price on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Finally, Jefferies Financial Group decreased their target price on shares of Target from $252.00 to $168.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.81.

In other news, insider Michael J. Fiddelke sold 5,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $210.19, for a total transaction of $1,050,950.00. Following the sale, the insider now directly owns 31,130 shares in the company, valued at approximately $6,543,214.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the sale, the insider now owns 7,891 shares in the company, valued at $1,972,750. The disclosure for this sale can be found here. Insiders have sold a total of 79,694 shares of company stock worth $14,055,746 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Shares of Target stock opened at $140.81 on Thursday. The company’s fifty day simple moving average is $190.88 and its 200-day simple moving average is $209.86. The stock has a market capitalization of $65.29 billion, a PE ratio of 11.68, a P/E/G ratio of 1.56 and a beta of 0.96. Target Co. has a 1-year low of $138.58 and a 1-year high of $268.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14.

Target (NYSE:TGTGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.88). The business had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.69 EPS. As a group, research analysts anticipate that Target Co. will post 8.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, August 16th. This is a boost from Target’s previous quarterly dividend of $0.90. Target’s dividend payout ratio (DPR) is currently 29.85%.

Target Profile (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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