Mechanics Bank Trust Department Has $2.05 Million Stake in Target Co. (NYSE:TGT)

Mechanics Bank Trust Department lowered its stake in Target Co. (NYSE:TGT) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,126 shares of the retailer’s stock after selling 1,256 shares during the quarter. Mechanics Bank Trust Department’s holdings in Target were worth $2,045,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its position in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares during the period. D.A. Davidson & CO. lifted its stake in Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Prana Capital Management LP lifted its position in shares of Target by 47.5% in the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after purchasing an additional 69,885 shares in the last quarter. Leibman Financial Services Inc. bought a new position in Target in the fourth quarter valued at $2,272,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Target in the 3rd quarter valued at $967,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.3 %

Shares of TGT opened at $133.62 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The firm has a market cap of $61.22 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.32 and a beta of 1.16. The business’s fifty day moving average is $136.13 and its 200-day moving average is $145.14.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. Equities analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.35%. Target’s dividend payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TGT shares. Oppenheimer restated an “outperform” rating and issued a $165.00 price target on shares of Target in a research note on Monday, November 25th. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Roth Mkm decreased their target price on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Finally, BMO Capital Markets cut their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $158.23.

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.