Patten & Patten Inc. TN Sells 235 Shares of Target Co. (NYSE:TGT)

Patten & Patten Inc. TN decreased its position in shares of Target Co. (NYSE:TGTFree Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,243 shares of the retailer’s stock after selling 235 shares during the quarter. Patten & Patten Inc. TN’s holdings in Target were worth $1,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Tower View Wealth Management LLC boosted its position in shares of Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Sittner & Nelson LLC raised its stake in shares of Target by 150.6% in the second quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock valued at $28,000 after buying an additional 128 shares during the period. First Capital Advisors Group LLC. bought a new stake in shares of Target during the 2nd quarter valued at $31,000. Penserra Capital Management LLC bought a new stake in shares of Target during the 4th quarter valued at $35,000. Finally, Kenfarb & CO. raised its stake in shares of Target by 81.3% during the 2nd quarter. Kenfarb & CO. now owns 290 shares of the retailer’s stock valued at $38,000 after purchasing an additional 130 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Wells Fargo & Company upped their target price on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. HSBC upgraded Target from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $195.00 in a research note on Wednesday, March 6th. Tigress Financial upped their target price on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI upped their target price on Target from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.12.

View Our Latest Stock Report on Target

Insider Activity

In other news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 in the last quarter. 0.23% of the stock is owned by company insiders.

Target Trading Down 0.9 %

Shares of TGT stock opened at $176.24 on Wednesday. The stock has a market capitalization of $81.37 billion, a PE ratio of 19.74, a P/E/G ratio of 1.67 and a beta of 1.14. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The business has a 50-day moving average of $156.27 and a 200 day moving average of $135.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29.

Target (NYSE:TGTGet Free Report) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter last year, the business posted $1.89 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is presently 49.27%.

About Target

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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