Trust Co. of Vermont Invests $1.68 Million in Target Corporation $TGT

Trust Co. of Vermont acquired a new position in shares of Target Corporation (NYSE:TGT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 12,863 shares of the retailer’s stock, valued at approximately $1,680,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after acquiring an additional 286,499 shares in the last quarter. State Street Corp increased its position in shares of Target by 0.3% during the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock worth $3,692,265,000 after purchasing an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Target during the 2nd quarter valued at $831,466,000. Finally, Franklin Resources Inc. boosted its position in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays reaffirmed an “underweight” rating on shares of Target in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their price target on Target from $129.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BMO Capital Markets boosted their price target on Target from $130.00 to $150.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. DA Davidson upped their price objective on shares of Target from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday. Finally, Wolfe Research set a $169.00 price objective on shares of Target in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.85.

Key Headlines Impacting Target

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $152.63 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The stock has a 50-day moving average of $139.08 and a two-hundred day moving average of $126.98. The stock has a market cap of $69.32 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.51 and a beta of 0.96. Target Corporation has a one year low of $83.44 and a one year high of $156.47.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts predict that Target Corporation will post 8.43 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a $1.16 dividend. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 12th. Target’s payout ratio is currently 61.29%.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.