Washington Trust Bank Has $329,000 Position in Target Co. (TGT)

Washington Trust Bank lessened its stake in shares of Target Co. (NYSE:TGT) by 58.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,097 shares of the retailer’s stock after selling 5,725 shares during the period. Washington Trust Bank’s holdings in Target were worth $329,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Phocas Financial Corp. purchased a new stake in Target during the fourth quarter worth $25,000. CI Investments Inc. acquired a new position in Target during the fourth quarter worth $27,000. Loeb Partners Corp acquired a new position in Target during the fourth quarter worth $28,000. Lindbrook Capital LLC acquired a new position in Target during the fourth quarter worth $32,000. Finally, Eukles Asset Management acquired a new position in Target during the fourth quarter worth $33,000. 83.89% of the stock is currently owned by institutional investors.

In other Target news, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the transaction, the insider now directly owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathy R. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,977 shares of company stock valued at $2,774,409. 0.19% of the stock is currently owned by corporate insiders.

NYSE:TGT traded up $0.69 during mid-day trading on Wednesday, hitting $82.66. The stock had a trading volume of 77,559 shares, compared to its average volume of 3,851,247. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08. Target Co. has a twelve month low of $60.15 and a twelve month high of $90.39. The stock has a market cap of $42.33 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53. Target had a net margin of 3.90% and a return on equity of 25.74%. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.05 billion. During the same period in the previous year, the company posted $1.37 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that Target Co. will post 5.79 EPS for the current year.

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 given a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.10%. Target’s payout ratio is currently 47.50%.

A number of equities research analysts have recently commented on the stock. Deutsche Bank increased their target price on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Tigress Financial reiterated a “buy” rating on shares of Target in a research report on Thursday, January 17th. Evercore ISI initiated coverage on shares of Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price objective for the company. Gordon Haskett raised shares of Target from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Standpoint Research raised shares of Target from a “hold” rating to a “buy” rating and set a $62.30 target price for the company in a research note on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.25.

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About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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