Target Co. (NYSE:TGT) Shares Purchased by Washington Trust Bank

Washington Trust Bank raised its holdings in shares of Target Co. (NYSE:TGT) by 94.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,551 shares of the retailer’s stock after acquiring an additional 1,242 shares during the quarter. Washington Trust Bank’s holdings in Target were worth $345,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in Target during the 3rd quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter worth about $29,000. MCF Advisors LLC boosted its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Target during the 3rd quarter valued at about $36,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TGT shares. Roth Capital set a $122.00 price target on Target in a report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Jefferies Financial Group lowered their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Bank of America dropped their target price on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $145.55.

Target Price Performance

Shares of TGT opened at $104.29 on Friday. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a fifty day moving average price of $125.89 and a 200 day moving average price of $138.13. The company has a market cap of $47.51 billion, a P/E ratio of 11.06, a PEG ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.