Perkins Coie Trust Co Sells 256 Shares of Target Co. (NYSE:TGT)

Perkins Coie Trust Co lessened its holdings in shares of Target Co. (NYSE:TGT) by 57.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186 shares of the retailer’s stock after selling 256 shares during the quarter. Perkins Coie Trust Co’s holdings in Target were worth $29,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. boosted its position in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after buying an additional 68 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after buying an additional 69 shares during the last quarter. Integral Investment Advisors Inc. lifted its stake in Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares in the last quarter. Finally, Haverford Trust Co lifted its stake in Target by 0.3% in the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TGT shares. Royal Bank of Canada lifted their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. Evercore ISI boosted their target price on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research note on Thursday, August 22nd. Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Truist Financial increased their price target on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Target Stock Performance

Target stock traded up $0.07 during mid-day trading on Wednesday, reaching $151.39. The company had a trading volume of 135,592 shares, compared to its average volume of 3,972,658. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The company has a 50 day moving average of $149.22 and a 200-day moving average of $153.60. The firm has a market cap of $70.04 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.00 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. On average, sell-side analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.23% of the company’s stock.

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.