SlateStone Wealth LLC trimmed its holdings in shares of Target Co. (NYSE:TGT) by 63.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,700 shares of the retailer’s stock after selling 6,381 shares during the quarter. SlateStone Wealth LLC’s holdings in Target were worth $297,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Harvest Group Wealth Management LLC bought a new stake in Target during the first quarter valued at approximately $77,000. Mn Services Vermogensbeheer B.V. grew its position in Target by 0.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 281,306 shares of the retailer’s stock valued at $22,578,000 after buying an additional 1,600 shares during the period. State Treasurer State of Michigan grew its position in Target by 0.7% during the first quarter. State Treasurer State of Michigan now owns 150,410 shares of the retailer’s stock valued at $12,072,000 after buying an additional 1,000 shares during the period. First Mercantile Trust Co. lifted its holdings in Target by 88.7% during the first quarter. First Mercantile Trust Co. now owns 22,960 shares of the retailer’s stock valued at $1,843,000 after purchasing an additional 10,790 shares in the last quarter. Finally, Cetera Advisor Networks LLC lifted its holdings in Target by 26.2% during the first quarter. Cetera Advisor Networks LLC now owns 23,507 shares of the retailer’s stock valued at $1,878,000 after purchasing an additional 4,880 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.
Several brokerages have weighed in on TGT. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, March 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $86.00) on shares of Target in a report on Wednesday, March 6th. BMO Capital Markets lifted their price target on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target on shares of Target in a report on Tuesday, February 26th. Finally, Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $88.29.
Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting the consensus estimate of $1.53. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $23.05 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Target Co. will post 5.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 47.50%.
In related news, insider Cathy R. Smith sold 30,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now directly owns 12,836 shares in the company, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. Insiders sold 36,977 shares of company stock worth $2,774,409 in the last three months. Insiders own 0.19% of the company’s stock.
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Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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