Webster Bank N. A. Has $565,000 Position in Target Co. (NYSE:TGT)

Webster Bank N. A. lifted its position in shares of Target Co. (NYSE:TGT) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,528 shares of the retailer’s stock after buying an additional 300 shares during the period. Webster Bank N. A.’s holdings in Target were worth $565,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC boosted its position in shares of Target by 3.1% during the first quarter. Murphy Pohlad Asset Management LLC now owns 54,688 shares of the retailer’s stock worth $4,389,000 after buying an additional 1,645 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Target by 62.2% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after buying an additional 140 shares during the period. Northpointe Capital LLC boosted its position in shares of Target by 42.0% during the first quarter. Northpointe Capital LLC now owns 57,087 shares of the retailer’s stock worth $4,582,000 after buying an additional 16,886 shares during the period. Azimuth Capital Management LLC boosted its position in shares of Target by 2.2% during the first quarter. Azimuth Capital Management LLC now owns 75,296 shares of the retailer’s stock worth $6,043,000 after buying an additional 1,625 shares during the period. Finally, LSV Asset Management boosted its position in shares of Target by 2.4% during the first quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock worth $593,268,000 after buying an additional 171,019 shares during the period. 83.11% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Target in a research report on Friday, May 3rd. Deutsche Bank assumed coverage on Target in a research report on Monday, July 15th. They set a “hold” rating and a $85.00 price target for the company. Morgan Stanley raised Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price target for the company in a research report on Monday, May 20th. Bank of America set a $105.00 price target on Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Credit Suisse Group set a $90.00 price target on Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $89.88.

Shares of TGT traded down $1.10 during mid-day trading on Friday, reaching $81.52. The company’s stock had a trading volume of 5,134,470 shares, compared to its average volume of 3,781,652. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The stock has a market cap of $44.27 billion, a PE ratio of 15.37, a P/E/G ratio of 2.06 and a beta of 0.61. The business’s 50-day moving average price is $87.22. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The company had revenue of $17.63 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period last year, the firm posted $1.32 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that Target Co. will post 5.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is presently 47.50%.

In other news, insider Stephanie A. Lundquist sold 8,367 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total transaction of $736,379.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total value of $1,055,801.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,180 shares of company stock valued at $2,854,650. Insiders own 0.24% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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