Target Co. (NYSE:TGT) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department cut its position in shares of Target Co. (NYSE:TGT) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,126 shares of the retailer’s stock after selling 1,256 shares during the quarter. Mechanics Bank Trust Department’s holdings in Target were worth $2,045,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cynosure Group LLC increased its stake in shares of Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after acquiring an additional 65 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares in the last quarter. Hancock Whitney Corp increased its holdings in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares during the last quarter. Trust Co. of Vermont raised its position in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after acquiring an additional 69 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its stake in shares of Target by 1.1% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after purchasing an additional 73 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TGT. Piper Sandler lowered their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target on the stock. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $150.00 target price on shares of Target in a research note on Friday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $158.23.

Target Stock Up 0.3 %

Shares of NYSE:TGT opened at $133.62 on Monday. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a market capitalization of $61.22 billion, a PE ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. The company’s fifty day moving average is $136.13 and its 200-day moving average is $145.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share 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 analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous 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 firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.35%. Target’s payout ratio is presently 47.51%.

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.