Canandaigua National Bank & Trust Co. Sells 989 Shares of Target Co. (NYSE:TGT)

Canandaigua National Bank & Trust Co. cut its position in shares of Target Co. (NYSE:TGT) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 19,928 shares of the retailer’s stock after selling 989 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Target were worth $2,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in Target by 0.6% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,824 shares of the retailer’s stock worth $1,662,000 after buying an additional 82 shares during the last quarter. Carlson Capital Management grew its stake in Target by 1.0% during the 3rd quarter. Carlson Capital Management now owns 9,985 shares of the retailer’s stock worth $1,067,000 after buying an additional 100 shares during the last quarter. Evermay Wealth Management LLC grew its stake in Target by 3.8% during the 3rd quarter. Evermay Wealth Management LLC now owns 2,724 shares of the retailer’s stock worth $291,000 after buying an additional 100 shares during the last quarter. IHT Wealth Management LLC grew its stake in Target by 3.2% during the 3rd quarter. IHT Wealth Management LLC now owns 3,246 shares of the retailer’s stock worth $347,000 after buying an additional 101 shares during the last quarter. Finally, Horrell Capital Management Inc. grew its stake in Target by 0.4% during the 4th quarter. Horrell Capital Management Inc. now owns 30,990 shares of the retailer’s stock worth $3,973,000 after buying an additional 114 shares during the last quarter. 76.89% of the stock is owned by institutional investors and hedge funds.

TGT has been the topic of several research analyst reports. Cowen restated a “buy” rating and set a $150.00 target price on shares of Target in a research note on Wednesday. Evercore ISI initiated coverage on Target in a research note on Wednesday, November 20th. They set a “hold” rating on the stock. Goldman Sachs Group downgraded Target from a “conviction-buy” rating to a “buy” rating and set a $110.00 target price on the stock. in a research note on Friday, October 25th. Robert W. Baird boosted their target price on Target from $115.00 to $140.00 in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group boosted their target price on Target from $120.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Target has an average rating of “Buy” and a consensus price target of $117.19.

Target stock traded up $0.26 during trading hours on Friday, hitting $116.58. 499,353 shares of the stock traded hands, compared to its average volume of 6,988,879. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.15. The firm’s 50 day moving average price is $125.96 and its 200-day moving average price is $107.70. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.60 and a beta of 0.56. Target Co. has a 1 year low of $67.17 and a 1 year high of $130.24.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.17. The business had revenue of $18.41 billion for the quarter, compared to the consensus estimate of $18.45 billion. Target had a return on equity of 28.22% and a net margin of 4.18%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. Research analysts forecast that Target Co. will post 6.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.64 annualized dividend and a yield of 2.26%. Target’s payout ratio is presently 48.98%.

Target declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 19th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the retailer to buy up to 9.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Don H. Liu sold 2,274 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total value of $277,882.80. Following the completion of the transaction, the insider now owns 37,616 shares of the company’s stock, valued at approximately $4,596,675.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie A. Lundquist sold 6,630 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $127.00, for a total value of $842,010.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Target Profile

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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