Pioneer Trust Bank N A OR Cuts Stake in Target Co. (TGT)

Pioneer Trust Bank N A OR cut its position in Target Co. (NYSE:TGT) by 70.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,810 shares of the retailer’s stock after selling 11,480 shares during the period. Pioneer Trust Bank N A OR’s holdings in Target were worth $314,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Target by 1.5% in the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after purchasing an additional 775,265 shares during the period. Vanguard Group Inc. increased its holdings in shares of Target by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after purchasing an additional 130,252 shares during the period. Franklin Resources Inc. increased its holdings in shares of Target by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after purchasing an additional 1,686,774 shares during the period. Dodge & Cox increased its holdings in shares of Target by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Target by 7.5% in the third quarter. Bank of New York Mellon Corp now owns 9,738,657 shares of the retailer’s stock valued at $574,680,000 after purchasing an additional 682,253 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on TGT. Deutsche Bank raised Target from a “neutral” rating to a “positive” rating and increased their price objective for the company from $57.00 to $70.00 in a report on Wednesday, January 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 target price on shares of Target in a report on Thursday, January 11th. MKM Partners set a $93.00 target price on Target and gave the stock a “buy” rating in a report on Friday, January 12th. TheStreet raised Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 target price (up from $65.00) on shares of Target in a report on Wednesday, January 10th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.15.

In other Target news, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Target Co. (NYSE TGT) opened at $77.90 on Friday. The stock has a market capitalization of $42,340.00, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 4.05 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target Co. has a 1 year low of $48.56 and a 1 year high of $77.91.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. Target’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share. equities analysts forecast that Target Co. will post 4.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a yield of 3.18%. Target’s dividend payout ratio is currently 52.10%.

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About Target

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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