First Interstate Bank Sells 220 Shares of Target Co. (NYSE:TGT)

First Interstate Bank decreased its position in shares of Target Co. (NYSE:TGT) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,400 shares of the retailer’s stock after selling 220 shares during the quarter. First Interstate Bank’s holdings in Target were worth $484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TGT. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Target by 3,577.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock valued at $312,000 after buying an additional 1,431 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in Target by 3.3% in the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock valued at $646,000 after buying an additional 96 shares in the last quarter. Covestor Ltd lifted its stake in Target by 131.7% in the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock valued at $149,000 after buying an additional 399 shares in the last quarter. Merit Financial Group LLC bought a new position in Target in the first quarter valued at approximately $208,000. Finally, Ergoteles LLC lifted its stake in Target by 191.5% in the first quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after buying an additional 7,748 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In other news, insider Christina Hennington sold 4,600 shares of the stock in a transaction dated 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 $6,576,658.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Melissa K. Kremer sold 3,000 shares of the company’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 of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christina Hennington sold 4,600 shares of the company’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 directly 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. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by insiders.

Target Price Performance

TGT traded down $1.70 on Tuesday, hitting $163.31. 3,450,573 shares of the stock were exchanged, compared to its average volume of 3,796,264. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The business has a 50-day moving average of $162.13 and a two-hundred day moving average of $139.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The firm has a market capitalization of $75.40 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.56 and a beta of 1.14.

Target (NYSE:TGT) last posted 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 net margin of 3.85% and a return on equity of 33.41%. The business had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Target’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.69%. Target’s dividend payout ratio (DPR) is currently 49.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGT. Jefferies Financial Group boosted their price objective on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Bank of America boosted their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley boosted their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on shares of Target from $176.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Evercore ISI lowered their target price on shares of Target from $183.00 to $180.00 and set an “in-line” rating on the stock in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

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.