First Financial Bank Trust Division Sells 357 Shares of Target Co. (NYSE:TGT)

First Financial Bank Trust Division trimmed its stake in Target Co. (NYSE:TGT) by 4.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,034 shares of the retailer’s stock after selling 357 shares during the period. First Financial Bank Trust Division’s holdings in Target were worth $1,424,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target in the 4th quarter worth approximately $28,000. Private Wealth Management Group LLC purchased a new stake in shares of Target in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. purchased a new stake in shares of Target in the 4th quarter worth approximately $29,000. Scarborough Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Target in the 4th quarter worth approximately $33,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 1.1 %

Target stock traded down $1.62 during trading on Tuesday, reaching $143.35. The stock had a trading volume of 969,238 shares, compared to its average volume of 3,885,047. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The business has a 50 day moving average price of $156.88 and a 200 day moving average price of $152.64. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The stock has a market cap of $66.32 billion, a PE ratio of 16.27, a P/E/G ratio of 1.33 and a beta of 1.20.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. On average, analysts predict that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.13%. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGT. Bank of America increased their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Roth Mkm reiterated a “neutral” rating and issued a $153.00 price objective on shares of Target in a research note on Thursday, May 23rd. Barclays increased their price target on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Guggenheim increased their price objective on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Truist Financial decreased their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.11.

Insiders Place Their Bets

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 in the company, valued at approximately $6,576,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.

Target Company 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.