American National Bank Reduces Stake in Target Co. (TGT)

American National Bank trimmed its stake in shares of Target Co. (NYSE:TGT) by 29.5% during the first quarter, HoldingsChannel.com reports. The firm owned 48,953 shares of the retailer’s stock after selling 20,446 shares during the period. American National Bank’s holdings in Target were worth $3,929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Investors Research Corp increased its position in shares of Target by 0.8% during the 4th quarter. Investors Research Corp now owns 17,742 shares of the retailer’s stock valued at $1,173,000 after purchasing an additional 142 shares during the period. Savant Capital LLC increased its position in shares of Target by 4.0% during the 4th quarter. Savant Capital LLC now owns 4,078 shares of the retailer’s stock valued at $270,000 after purchasing an additional 155 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Target by 6.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,667 shares of the retailer’s stock valued at $176,000 after purchasing an additional 166 shares during the period. Atlas Brown Inc. boosted its stake in shares of Target by 3.9% during the 4th quarter. Atlas Brown Inc. now owns 4,406 shares of the retailer’s stock worth $291,000 after acquiring an additional 166 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Target by 23.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 938 shares of the retailer’s stock worth $62,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

In other Target news, insider Robert M. Harrison sold 1,791 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the transaction, the insider now directly owns 12,836 shares in the company, valued at $1,030,474.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,977 shares of company stock valued at $2,774,409. Insiders own 0.19% of the company’s stock.

Shares of Target stock opened at $80.73 on Monday. The firm has a market capitalization of $41.54 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.68. The company has a quick ratio of 0.20, a current ratio of 0.83 and a debt-to-equity ratio of 1.08. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.53. The business had revenue of $22.98 billion during the quarter, compared to analysts’ expectations of $23.05 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. Target’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. As a group, analysts predict that Target Co. will post 5.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.17%. Target’s payout ratio is 47.50%.

Several equities research analysts have recently weighed in on TGT shares. Gordon Haskett raised Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, March 8th. Standpoint Research raised Target from a “hold” rating to a “buy” rating and set a $62.30 price objective for the company in a research note on Wednesday, December 26th. Tigress Financial reissued a “buy” rating on shares of Target in a research note on Thursday, January 17th. Finally, Deutsche Bank raised their price objective on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $87.25.

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Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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