Perkins Coie Trust Co Reduces Stock Position in Target Co. (NYSE:TGT)

Perkins Coie Trust Co lowered its holdings in shares of Target Co. (NYSE:TGT) by 57.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186 shares of the retailer’s stock after selling 256 shares during the quarter. Perkins Coie Trust Co’s holdings in Target were worth $29,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TGT. Triad Wealth Partners LLC bought a new position in shares of Target in the 2nd quarter worth $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in Target in the 4th quarter worth about $28,000. Slocum Gordon & Co LLP acquired a new position in Target in the 2nd quarter worth about $28,000. Scarborough Advisors LLC acquired a new position in shares of Target during the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Target during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TGT. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Truist Financial raised their price target on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. 0.23% of the stock is currently owned by insiders.

Target Trading Up 0.0 %

NYSE:TGT traded up $0.07 during trading hours on Wednesday, hitting $151.39. The stock had a trading volume of 135,592 shares, compared to its average volume of 3,972,658. Target Co. has a one year low of $105.23 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market cap of $70.04 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.00 and a beta of 1.24. The business’s 50 day moving average is $149.22 and its 200-day moving average is $153.60.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Target 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.