Riverview Trust Co Has $390,000 Stake in Target Co. (NYSE:TGT)

Riverview Trust Co boosted its holdings in Target Co. (NYSE:TGT) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 2,501 shares of the retailer’s stock after purchasing an additional 95 shares during the period. Riverview Trust Co’s holdings in Target were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Washington Trust Advisors Inc. grew its position in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the period. Williams Jones Wealth Management LLC. increased its stake in shares of Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC raised its holdings 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 purchasing an additional 69 shares during the period. Integral Investment Advisors Inc. lifted its stake in 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 purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Target by 0.4% in the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after buying an additional 69 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $156.78 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a 50 day simple moving average of $152.25 and a two-hundred day simple moving average of $152.90. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The company has a market capitalization of $72.53 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect 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. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.86%. Target’s payout ratio is currently 50.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’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 completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Melius Research assumed coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Oppenheimer reduced their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Truist Financial lifted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.69.

About Target

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.