BRYN MAWR TRUST Co cut its stake in shares of Target Co. (NYSE:TGT) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,317 shares of the retailer’s stock after selling 1,752 shares during the period. BRYN MAWR TRUST Co’s holdings in Target were worth $804,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Oppenheimer & Co. Inc. grew its holdings in shares of Target by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 65,967 shares of the retailer’s stock worth $3,893,000 after purchasing an additional 6,368 shares in the last quarter. SNS Financial Group LLC grew its holdings in shares of Target by 11.9% during the fourth quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock worth $994,000 after purchasing an additional 1,623 shares in the last quarter. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Target by 177.0% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 46,946 shares of the retailer’s stock worth $2,770,000 after purchasing an additional 30,000 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Target by 3.5% during the third quarter. Legal & General Group Plc now owns 3,594,505 shares of the retailer’s stock worth $212,117,000 after purchasing an additional 120,278 shares in the last quarter. Finally, Mutual of Omaha Bank Wealth Management grew its holdings in shares of Target by 27.4% during the fourth quarter. Mutual of Omaha Bank Wealth Management now owns 22,843 shares of the retailer’s stock worth $1,491,000 after purchasing an additional 4,913 shares in the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
Shares of Target stock opened at $70.14 on Thursday. The firm has a market capitalization of $38,234.90, a P/E ratio of 13.11, a PEG ratio of 2.97 and a beta of 0.71. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.54%. Target’s dividend payout ratio (DPR) is presently 46.36%.
TGT has been the subject of several recent analyst reports. Zacks Investment Research raised Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a report on Saturday, January 20th. Robert W. Baird reissued a “hold” rating and set a $70.00 price objective on shares of Target in a report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on Target and gave the stock a “buy” rating in a report on Thursday, December 14th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective (up previously from $65.00) on shares of Target in a report on Wednesday, January 10th. Finally, Vetr lowered Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Target currently has a consensus rating of “Hold” and a consensus price target of $74.20.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the sale, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
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Target Company Profile
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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