Patten & Patten Inc. TN Cuts Holdings in Target Co. (NYSE:TGT)

Patten & Patten Inc. TN reduced its stake in Target Co. (NYSE:TGTFree Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,243 shares of the retailer’s stock after selling 235 shares during the period. Patten & Patten Inc. TN’s holdings in Target were worth $1,316,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Target by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock valued at $4,923,428,000 after purchasing an additional 702,565 shares in the last quarter. State Street Corp increased its holdings in Target by 4.6% in the 1st quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock valued at $5,725,904,000 after purchasing an additional 1,529,881 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock valued at $2,762,865,000 after acquiring an additional 18,518,448 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Target by 1.0% during the first quarter. Geode Capital Management LLC now owns 8,300,283 shares of the retailer’s stock valued at $1,371,516,000 after acquiring an additional 80,027 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Target by 26.5% during the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock valued at $747,699,000 after acquiring an additional 1,415,900 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on TGT shares. The Goldman Sachs Group raised their target price on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. BMO Capital Markets raised their target price on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Wells Fargo & Company raised their target price on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Barclays raised their target price on Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their target price on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.12.

Read Our Latest Analysis on TGT

Target Stock Down 0.9 %

TGT stock opened at $176.24 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm’s 50-day simple moving average is $156.27 and its 200 day simple moving average is $135.87. The stock has a market cap of $81.37 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14.

Target (NYSE:TGTGet Free Report) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The business had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter last year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

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 issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.50%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 in the last quarter. Company insiders own 0.23% of the company’s stock.

About Target

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTFree Report).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.