Cambridge Trust Co. Sells 625 Shares of Target Co. (NYSE:TGT)

Cambridge Trust Co. lessened its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,318 shares of the retailer’s stock after selling 625 shares during the quarter. Cambridge Trust Co.’s holdings in Target were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. Bell Investment Advisors Inc raised its stake in shares of Target by 122.1% in the third quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Annapolis Financial Services LLC boosted its position in shares of Target by 96.2% during the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Target in the 3rd quarter worth $34,000. Wellington Shields & Co. LLC purchased a new position in Target during the second quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Target in the 3rd quarter worth about $37,000. Institutional investors own 78.86% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 35,000 shares of Target stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the completion of the sale, the insider now owns 191,272 shares in the company, valued at approximately $30,408,422.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TGT. Piper Sandler boosted their target price on Target from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Robert W. Baird upped their price objective on Target from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Barclays initiated coverage on Target in a research note on Tuesday, February 7th. They set an “equal weight” rating and a $163.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and set a $155.00 price target on shares of Target in a research report on Monday, February 13th. Finally, StockNews.com assumed coverage on shares of Target in a research report on Thursday. They issued a “hold” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.69.

Target Trading Down 2.3 %

Shares of Target stock opened at $159.36 on Friday. The company’s 50-day moving average price is $166.27 and its 200-day moving average price is $160.73. The company has a current ratio of 0.92, a quick ratio of 0.22 and a debt-to-equity ratio of 1.43. Target Co. has a 12-month low of $137.16 and a 12-month high of $254.87. The company has a market cap of $73.36 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.28 and a beta of 1.05.

Target (NYSE:TGT – Get Rating) last posted its earnings results on Tuesday, February 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.49. The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $30.73 billion. Target had a net margin of 2.55% and a return on equity of 25.63%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. On average, equities analysts expect that Target Co. will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s payout ratio is 72.24%.

About Target

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.