First Financial Bank Trust Division Sells 1,397 Shares of Target Co. (NYSE:TGT)

First Financial Bank Trust Division reduced its holdings in Target Co. (NYSE:TGT) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,017 shares of the retailer’s stock after selling 1,397 shares during the quarter. Target accounts for about 1.4% of First Financial Bank Trust Division’s investment portfolio, making the stock its 24th largest position. First Financial Bank Trust Division’s holdings in Target were worth $12,085,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pflug Koory LLC raised its stake in Target by 0.5% in the fourth quarter. Pflug Koory LLC now owns 11,630 shares of the retailer’s stock valued at $2,053,000 after purchasing an additional 54 shares in the last quarter. Profit Investment Management LLC raised its position in shares of Target by 2.0% during the 4th quarter. Profit Investment Management LLC now owns 2,752 shares of the retailer’s stock valued at $486,000 after buying an additional 55 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Target by 1.6% during the 4th quarter. AMI Asset Management Corp now owns 3,438 shares of the retailer’s stock worth $607,000 after acquiring an additional 55 shares during the last quarter. Ballast Inc. grew its position in Target by 1.2% in the fourth quarter. Ballast Inc. now owns 4,670 shares of the retailer’s stock worth $824,000 after acquiring an additional 57 shares in the last quarter. Finally, Stonebridge Financial Planning Group LLC increased its stake in Target by 17.1% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 410 shares of the retailer’s stock valued at $72,000 after acquiring an additional 60 shares during the last quarter. 79.17% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Robert M. Harrison sold 2,282 shares of the company’s stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $192.45, for a total value of $439,170.90. Following the sale, the chief accounting officer now directly owns 6,265 shares of the company’s stock, valued at approximately $1,205,699.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 16,894 shares of the stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $198.34, for a total transaction of $3,350,755.96. The disclosure for this sale can be found here. Insiders have sold a total of 21,028 shares of company stock worth $4,128,843 in the last quarter. Company insiders own 0.52% of the company’s stock.

TGT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Target from $194.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, January 14th. Morgan Stanley upped their target price on Target from $180.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 20th. Telsey Advisory Group decreased their price target on shares of Target from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 3rd. BMO Capital Markets upped their price objective on shares of Target from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, March 9th. Finally, Stifel Nicolaus lifted their target price on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $180.90.

TGT stock traded down $1.34 on Thursday, reaching $203.11. The company’s stock had a trading volume of 17,991 shares, compared to its average volume of 3,999,654. The firm has a market cap of $101.27 billion, a PE ratio of 27.08, a PEG ratio of 2.64 and a beta of 0.97. The business has a fifty day simple moving average of $187.34 and a two-hundred day simple moving average of $176.55. Target Co. has a 12-month low of $100.00 and a 12-month high of $207.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 1.05.

Target (NYSE:TGT) last posted its earnings results on Monday, March 1st. The retailer reported $2.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.13. Target had a net margin of 4.31% and a return on equity of 34.94%. The firm had revenue of $28 billion during the quarter, compared to analysts’ expectations of $27.42 billion. During the same period last year, the company posted $1.69 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, research analysts anticipate that Target Co. will post 9.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, May 18th. This represents a $2.72 annualized dividend and a yield of 1.34%. Target’s payout ratio is 42.57%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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