Target Corporation (NYSE:TGT) Shares Sold by Essex Savings Bank

Essex Savings Bank trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,750 shares of the retailer’s stock after selling 838 shares during the quarter. Target makes up approximately 0.8% of Essex Savings Bank’s investment portfolio, making the stock its 23rd largest position. Essex Savings Bank’s holdings in Target were worth $3,313,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Horrell Capital Management Inc. grew its stake in Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after buying an additional 76 shares during the last quarter. Fiducient Advisors LLC lifted its stake in Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after buying an additional 78 shares during the last quarter. Napatree Capital LLC boosted its holdings in shares of Target by 2.4% in the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after acquiring an additional 85 shares during the period. Legacy Investment Solutions LLC grew its position in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after acquiring an additional 85 shares during the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC grew its position in shares of Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer’s stock worth $3,875,000 after acquiring an additional 85 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Target from $82.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, May 22nd. Citigroup lowered their price objective on shares of Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Roth Capital set a $122.00 target price on shares of Target in a report on Wednesday, March 5th. Cfra Research downgraded shares of Target from a “moderate buy” rating to a “hold” rating in a research note on Thursday, April 17th. Finally, Barclays assumed coverage on Target in a report on Thursday, May 22nd. They set an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.70.

Target Stock Down 2.3%

TGT stock opened at $95.18 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $95.61 and its 200 day moving average price is $114.64. Target Corporation has a 52 week low of $87.35 and a 52 week high of $167.40. The company has a market cap of $43.24 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.80 and a beta of 1.22.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 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 analysts’ expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. Target’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. On average, research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is 49.23%.

Insider Activity

In other Target 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

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.