Somerset Trust Co Buys 592 Shares of Target Co. (NYSE:TGT)

Somerset Trust Co raised its stake in Target Co. (NYSE:TGTFree Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,452 shares of the retailer’s stock after buying an additional 592 shares during the period. Somerset Trust Co’s holdings in Target were worth $2,915,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Target by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after buying an additional 417,818 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Target by 9.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after buying an additional 868,274 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Target by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock valued at $1,357,525,000 after purchasing an additional 137,180 shares during the period. FMR LLC lifted its stake in shares of Target by 26.5% in the 3rd quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock valued at $747,699,000 after purchasing an additional 1,415,900 shares during the period. Finally, Norges Bank acquired a new position in shares of Target in the 4th quarter valued at about $759,810,000. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Target from $178.00 to $180.00 in a research note on Tuesday, May 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Wednesday, May 22nd. Truist Financial dropped their price objective on Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price objective on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. Finally, Bank of America boosted their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.11.

Check Out Our Latest Stock Report on TGT

Target Stock Performance

Shares of TGT stock traded down $2.43 during trading on Wednesday, hitting $142.54. The company’s stock had a trading volume of 2,969,474 shares, compared to its average volume of 4,997,087. The company has a market cap of $65.94 billion, a PE ratio of 16.00, a P/E/G ratio of 1.36 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $156.29 and a 200-day moving average of $152.70. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGTGet Free Report) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. As a group, research analysts anticipate that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.14%. Target’s dividend payout ratio is currently 49.38%.

Target Profile

(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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