Bremer Bank National Association Sells 1,021 Shares of Target Co. (NYSE:TGT)

Bremer Bank National Association reduced its position in shares of Target Co. (NYSE:TGT) by 18.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,522 shares of the retailer’s stock after selling 1,021 shares during the quarter. Bremer Bank National Association’s holdings in Target were worth $669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new stake in shares of Target in the 4th quarter valued at $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Target during the fourth quarter worth $29,000. Scarborough Advisors LLC bought a new position in Target during the fourth quarter worth $29,000. Finally, Godsey & Gibb Inc. raised its position in shares of Target by 148.6% in the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT traded down $0.90 during trading on Wednesday, reaching $135.76. The company’s stock had a trading volume of 3,771,868 shares, compared to its average volume of 3,879,075. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The firm has a market cap of $62.81 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The firm has a 50 day moving average of $145.55 and a 200-day moving average of $154.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period last year, the firm posted $2.05 earnings per share. Target’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.30%. Target’s dividend payout ratio is presently 50.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TGT shares. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 target price on shares of Target in a report on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. UBS Group reduced their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley dropped their price target on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

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.