Target Co. (NYSE:TGT) Stock Holdings Lifted by American Trust

American Trust lifted its holdings in shares of Target Co. (NYSE:TGT) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,976 shares of the retailer’s stock after buying an additional 2,971 shares during the period. American Trust’s holdings in Target were worth $3,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its holdings in shares of Target by 22.1% during the first quarter. Ritholtz Wealth Management now owns 6,907 shares of the retailer’s stock valued at $1,144,000 after acquiring an additional 1,252 shares during the period. Hummer Financial Advisory Services Inc bought a new position in Target in the 1st quarter worth about $303,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Target in the fourth quarter valued at approximately $77,000. Phocas Financial Corp. raised its holdings in shares of Target by 3.2% during the first quarter. Phocas Financial Corp. now owns 4,155 shares of the retailer’s stock valued at $688,000 after buying an additional 130 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Target by 42.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,161 shares of the retailer’s stock valued at $173,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Target Price Performance

NYSE TGT opened at $122.40 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.83 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $56.50 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.01. Target Co. has a 12-month low of $120.75 and a 12-month high of $181.70. The company has a 50 day moving average price of $129.54 and a two-hundred day moving average price of $143.82.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.39. The company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $25.18 billion. Target had a return on equity of 29.43% and a net margin of 3.12%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that Target Co. will post 7.6 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.59%. This is a boost from Target’s previous quarterly dividend of $1.08. The ex-dividend date was Tuesday, August 15th. Target’s dividend payout ratio is 60.44%.

Insider Activity

In other Target news, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $130.70, for a total value of $3,921,000.00. Following the sale, the insider now owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on shares of Target from $220.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, August 14th. Oppenheimer dropped their price target on shares of Target from $190.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Jefferies Financial Group reduced their price target on shares of Target from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, August 17th. DA Davidson reiterated a “buy” rating and set a $193.00 price objective on shares of Target in a research note on Wednesday, August 16th. Finally, TheStreet downgraded Target from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. Eighteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $159.21.

About Target

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.