New Hampshire Trust Acquires 506 Shares of Target Co. (NYSE:TGT)

New Hampshire Trust boosted its holdings in Target Co. (NYSE:TGT) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,077 shares of the retailer’s stock after acquiring an additional 506 shares during the quarter. New Hampshire Trust’s holdings in Target were worth $802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Financial Connections Group Inc. bought a new position in Target in the 4th quarter valued at approximately $28,000. Penserra Capital Management LLC bought a new position in shares of Target during the 4th quarter valued at $35,000. Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Target during the 1st quarter valued at $37,000. Centerpoint Advisors LLC lifted its holdings in shares of Target by 12,050.0% during the 1st quarter. Centerpoint Advisors LLC now owns 243 shares of the retailer’s stock valued at $40,000 after buying an additional 241 shares during the period. Finally, Heritage Wealth Management LLC lifted its holdings in shares of Target by 511.3% during the 4th quarter. Heritage Wealth Management LLC now owns 324 shares of the retailer’s stock valued at $48,000 after buying an additional 271 shares during the period. 78.33% of the stock is owned by institutional investors.

Target Trading Down 1.4 %

Shares of NYSE:TGT traded down $1.72 during trading on Friday, reaching $123.05. 4,919,837 shares of the company were exchanged, compared to its average volume of 4,390,741. The firm has a market capitalization of $56.80 billion, a PE ratio of 16.90, a P/E/G ratio of 1.15 and a beta of 1.01. The business’s fifty day simple moving average is $129.09 and its 200-day simple moving average is $143.07. Target Co. has a 12-month low of $120.75 and a 12-month high of $181.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.39. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $25.18 billion. Target had a net margin of 3.12% and a return on equity of 29.43%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, research analysts anticipate that Target Co. will post 7.6 EPS for the current year.

Insider Activity at Target

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Telsey Advisory Group lowered their price target on Target from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. Royal Bank of Canada restated an “outperform” rating and issued a $161.00 price objective on shares of Target in a research note on Thursday, August 17th. Evercore ISI upped their price objective on Target from $140.00 to $142.00 and gave the stock an “in-line” rating in a research note on Friday, September 8th. Piper Sandler reduced their price objective on Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, August 14th. Finally, Bank of America reduced their price objective on Target from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Target currently has an average rating of “Hold” and an average price target of $159.21.

Target Company 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.