Harrington Investments INC Decreases Holdings in Target Co. (NYSE:TGT)

Harrington Investments INC trimmed its holdings in Target Co. (NYSE:TGT) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,194 shares of the retailer’s stock after selling 80 shares during the quarter. Harrington Investments INC’s holdings in Target were worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TGT. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter worth $25,000. Washington Trust Advisors Inc. raised its holdings in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the 2nd quarter worth about $28,000. Retirement Group LLC boosted its stake in shares of Target by 85.0% during the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.3 %

Shares of Target stock opened at $157.97 on Tuesday. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $150.35 and a 200-day moving average price of $153.10. The firm has a market cap of $73.08 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $1.80 EPS. Equities research analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGT. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. Bank of America raised their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by insiders.

Target 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.