CNB Bank Sells 586 Shares of Target Co. (NYSE:TGT)

CNB Bank lessened its stake in Target Co. (NYSE:TGT) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,997 shares of the retailer’s stock after selling 586 shares during the quarter. CNB Bank’s holdings in Target were worth $540,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TGT. Vanguard Personalized Indexing Management LLC lifted its holdings in Target by 8.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 48,982 shares of the retailer’s stock valued at $7,241,000 after purchasing an additional 3,694 shares during the last quarter. Waterloo Capital L.P. grew its holdings in Target by 22.5% during the 2nd quarter. Waterloo Capital L.P. now owns 7,551 shares of the retailer’s stock valued at $1,118,000 after buying an additional 1,388 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Target by 2.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 43,199 shares of the retailer’s stock valued at $6,395,000 after acquiring an additional 1,016 shares during the period. Miramar Capital LLC increased its holdings in Target by 0.4% during the 2nd quarter. Miramar Capital LLC now owns 80,194 shares of the retailer’s stock worth $11,872,000 after acquiring an additional 285 shares during the period. Finally, Somerset Group LLC boosted its holdings in Target by 63.0% in the 2nd quarter. Somerset Group LLC now owns 2,396 shares of the retailer’s stock valued at $355,000 after purchasing an additional 926 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 1.3 %

TGT opened at $131.57 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The stock has a market cap of $60.29 billion, a PE ratio of 14.02, a PEG ratio of 2.32 and a beta of 1.16. The business has a 50 day moving average of $136.81 and a 200-day moving average of $145.31.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. Equities research analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.40%. Target’s payout ratio is currently 47.51%.

Analyst Ratings Changes

TGT has been the subject of several research analyst reports. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Bank of America lowered their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their target price for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Sanford C. Bernstein began coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.07.

Target 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.