Ledyard National Bank Trims Holdings in Target Co. (NYSE:TGT)

Ledyard National Bank reduced its holdings in shares of Target Co. (NYSE:TGT) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 36,883 shares of the retailer’s stock after selling 1,386 shares during the period. Ledyard National Bank’s holdings in Target were worth $5,749,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. increased its position in Target by 56.1% in 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 during the period. Williams Jones Wealth Management LLC. increased its stake in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares during the period. Beacon Capital Management LLC lifted its stake in shares of 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 acquiring an additional 69 shares during the period. Integral Investment Advisors Inc. boosted its holdings in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE:TGT opened at $150.91 on Tuesday. The firm’s fifty day simple moving average is $152.57 and its 200 day simple moving average is $152.42. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm has a market capitalization of $69.82 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, equities research analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. Target’s payout ratio is currently 50.28%.

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on TGT. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.30.

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.