Central Bank & Trust Co. Trims Holdings in Target Co. (NYSE:TGT)

Central Bank & Trust Co. reduced its holdings in shares of Target Co. (NYSE:TGT) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,149 shares of the retailer’s stock after selling 871 shares during the quarter. Central Bank & Trust Co.’s holdings in Target were worth $318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target during the 2nd quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Target during the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Target during the 4th quarter valued at approximately $29,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Target during the 4th quarter valued at approximately $29,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 1.1 %

Shares of NYSE:TGT traded up $1.62 during midday trading on Monday, reaching $145.66. The company had a trading volume of 1,454,098 shares, compared to its average volume of 3,872,464. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a fifty day simple moving average of $145.21 and a two-hundred day simple moving average of $154.40.

Target (NYSE:TGT) last announced its quarterly earnings data 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 business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Research analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.08%. Target’s dividend payout ratio (DPR) is 50.28%.

Analyst Ratings Changes

Several research firms recently issued reports on TGT. Royal Bank of Canada dropped their price target on Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Wells Fargo & Company dropped their target price on Target from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. UBS Group dropped their target price on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer dropped their target price on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Target in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.57.

About Target

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.