CHICAGO TRUST Co NA Cuts Position in Target Co. (NYSE:TGT)

CHICAGO TRUST Co NA decreased its holdings in Target Co. (NYSE:TGT) by 12.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,481 shares of the retailer’s stock after selling 797 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Target were worth $572,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its holdings in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after buying an additional 1,306,552 shares during the period. FMR LLC raised its stake in shares of Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Geode Capital Management LLC raised its stake in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after purchasing an additional 470,990 shares during the period. Norges Bank purchased a new stake in shares of Target during the fourth quarter valued at approximately $757,892,000. Finally, Northern Trust Corp raised its stake in shares of Target by 16.3% during the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock valued at $726,814,000 after purchasing an additional 754,883 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Target from $82.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, May 22nd. Roth Mkm reiterated a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Cfra Research lowered shares of Target from a “moderate buy” rating to a “hold” rating in a research note on Thursday, April 17th. Baird R W lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Guggenheim dropped their price target on shares of Target from $155.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.70.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider now owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $97.36 on Tuesday. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a fifty day moving average of $95.07 and a 200-day moving average of $115.89.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.03 EPS. As a group, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.60%. The ex-dividend date was Wednesday, May 14th. Target’s payout ratio is currently 49.23%.

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.