Target Co. (NYSE:TGT) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp decreased its stake in shares of Target Co. (NYSE:TGT) by 57.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,767 shares of the retailer’s stock after selling 5,023 shares during the period. Atlantic Union Bankshares Corp’s holdings in Target were worth $668,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia lifted its position in Target by 153.4% during the third quarter. Bank of Nova Scotia now owns 77,882 shares of the retailer’s stock worth $8,611,000 after buying an additional 47,144 shares during the period. Toronto Dominion Bank grew its stake in shares of Target by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 254,622 shares of the retailer’s stock valued at $28,154,000 after buying an additional 29,206 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Target by 6.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 3,110 shares of the retailer’s stock worth $344,000 after buying an additional 190 shares during the last quarter. Teza Capital Management LLC increased its holdings in shares of Target by 168.3% during the 3rd quarter. Teza Capital Management LLC now owns 14,032 shares of the retailer’s stock worth $1,552,000 after buying an additional 8,802 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of Target by 83.2% in the 3rd quarter. Ancora Advisors LLC now owns 11,933 shares of the retailer’s stock worth $1,319,000 after buying an additional 5,420 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of NYSE TGT traded up $1.42 during midday trading on Friday, hitting $148.14. 12,772,387 shares of the company’s stock were exchanged, compared to its average volume of 3,949,080. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm has a market cap of $68.54 billion, a P/E ratio of 16.63, a PEG ratio of 1.38 and a beta of 1.20. The stock’s 50 day moving average price is $152.97 and its 200-day moving average price is $153.10.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Equities research analysts anticipate that Target Co. will post 9.32 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.02%. Target’s dividend payout ratio is currently 50.28%.

Analysts Set New Price Targets

TGT has been the subject of a number of research reports. DA Davidson boosted their target price on Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price target on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Gordon Haskett boosted their price objective on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Wells Fargo & Company increased their target price on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI upped their price target on Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.61.

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.