Community Bank N.A. Has $347,000 Position in Target Co. (TGT)

Community Bank N.A. reduced its stake in Target Co. (NYSE:TGT) by 5.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,294 shares of the retailer’s stock after selling 370 shares during the period. Community Bank N.A.’s holdings in Target were worth $347,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of TGT. Cribstone Capital Management LLC boosted its stake in shares of Target by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in shares of Target by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the period. Pinnacle Bank bought a new stake in shares of Target during the first quarter worth $123,000. Peoples Financial Services CORP. boosted its stake in shares of Target by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the period. Finally, Feltz Wealth PLAN Inc. bought a new stake in shares of Target during the first quarter worth $138,000. Institutional investors and hedge funds own 88.53% of the company’s stock.

Institutional Ownership by Quarter for Target (NYSE:TGT)

Shares of Target Co. (TGT) opened at 55.63 on Tuesday. The stock has a market capitalization of $30.69 billion, a P/E ratio of 11.40 and a beta of 0.63. The firm’s 50-day moving average price is $55.55 and its 200 day moving average price is $62.98. Target Co. has a 1-year low of $52.72 and a 1-year high of $79.33.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target had a return on equity of 25.18% and a net margin of 4.75%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. Analysts expect that Target Co. will post $4.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.31%. Target’s dividend payout ratio (DPR) is presently 42.93%.

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A number of brokerages have recently weighed in on TGT. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $60.11 price objective on the stock. in a report on Monday, April 10th. Jefferies Group LLC restated a “hold” rating and issued a $59.00 target price (up previously from $56.00) on shares of Target in a research report on Friday, May 19th. Zacks Investment Research downgraded Target from a “hold” rating to a “strong sell” rating in a research report on Monday, March 20th. ValuEngine downgraded Target from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Buckingham Research reiterated a “buy” rating and set a $71.00 price objective on shares of Target in a research report on Wednesday, April 19th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $65.49.

In related news, Director Donald R. Knauss acquired 10,000 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the completion of the purchase, the director now directly owns 16,431 shares of the company’s stock, valued at $901,404.66. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

About Target

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TGT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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