Mechanics Bank Trust Department Has $2.52 Million Holdings in Target Co. (NYSE:TGT)

Mechanics Bank Trust Department decreased its position in Target Co. (NYSE:TGTFree Report) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,673 shares of the retailer’s stock after selling 3,283 shares during the period. Mechanics Bank Trust Department’s holdings in Target were worth $2,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TGT. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Target by 3,577.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock valued at $312,000 after buying an additional 1,431 shares during the period. Zions Bancorporation N.A. increased its stake in Target by 3.3% in the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock valued at $646,000 after purchasing an additional 96 shares in the last quarter. Covestor Ltd increased its stake in Target by 131.7% in the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock valued at $149,000 after purchasing an additional 399 shares in the last quarter. Merit Financial Group LLC bought a new stake in Target in the first quarter valued at $208,000. Finally, Ergoteles LLC increased its stake in Target by 191.5% in the first quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after purchasing an additional 7,748 shares in the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TGT shares. Stifel Nicolaus lifted their price target on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group lifted their price target on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. BMO Capital Markets lifted their price target on shares of Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Bank of America lifted their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average price target of $178.38.

Read Our Latest Stock Report on TGT

Insiders Place Their Bets

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $168.17 on Wednesday. The stock has a market capitalization of $77.64 billion, a P/E ratio of 18.83, a PEG ratio of 1.57 and a beta of 1.13. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $150.32 and its 200 day moving average is $132.73. Target Co. has a 12 month low of $102.93 and a 12 month high of $175.53.

Target (NYSE:TGTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. Target’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. On average, sell-side analysts anticipate that Target Co. will post 9.37 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is presently 49.27%.

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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