Smithfield Trust Co Has $32,000 Holdings in Target Corporation (NYSE:TGT)

Smithfield Trust Co cut its holdings in Target Corporation (NYSE:TGT) by 45.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 310 shares of the retailer’s stock after selling 256 shares during the quarter. Smithfield Trust Co’s holdings in Target were worth $32,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TGT. Bernard Wealth Management Corp. bought a new position in Target in the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC raised its position in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Target in the fourth quarter valued at about $40,000. Bellwether Advisors LLC bought a new position in Target in the fourth quarter valued at about $47,000. Finally, Mascagni Wealth Management Inc. bought a new position in Target in the fourth quarter valued at about $49,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Target

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

Target Stock Down 0.1%

Shares of NYSE:TGT opened at $99.71 on Tuesday. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 2.85 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The business’s 50 day moving average is $100.05 and its 200 day moving average is $106.75.

Target (NYSE:TGT) last announced its 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 company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. On average, sell-side analysts forecast 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 paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. Target’s payout ratio is presently 49.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Baird R W downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Robert W. Baird set a $100.00 target price on Target in a research report on Thursday, May 22nd. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $97.00 to $82.00 in a research report on Monday, May 12th. Morgan Stanley lowered their price objective on Target from $160.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Finally, Piper Sandler restated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $115.65.

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.