NBT Bank N A NY Sells 269 Shares of Target Co. (NYSE:TGT)

NBT Bank N A NY lessened its position in Target Co. (NYSE:TGT) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,452 shares of the retailer’s stock after selling 269 shares during the quarter. NBT Bank N A NY’s holdings in Target were worth $2,969,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC lifted its position in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Target in the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Target in the 4th quarter valued at about $40,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.1%

Shares of Target stock opened at $97.37 on Tuesday. 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 50-day moving average of $95.65 and a 200-day moving average of $114.78. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a market cap of $44.24 billion, a PE ratio of 10.33, a PEG ratio of 1.94 and a beta of 1.22.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target’s payout ratio is 50.11%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TGT shares. Robert W. Baird set a $100.00 target price on Target in a report on Thursday, May 22nd. DA Davidson dropped their price objective on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Baird R W downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Finally, Evercore ISI dropped their price target on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.70.

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.