Fulton Bank N.A. Has $3.11 Million Holdings in Target Co. (NYSE:TGT)

Fulton Bank N.A. decreased its holdings in shares of Target Co. (NYSE:TGT) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,792 shares of the retailer’s stock after selling 182 shares during the quarter. Fulton Bank N.A.’s holdings in Target were worth $3,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new stake in shares of Target during the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Target in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Target during the fourth quarter worth $36,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Target during the fourth quarter worth $39,000. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TGT shares. The Goldman Sachs Group cut their price objective on Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. UBS Group cut their price target on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Barclays started coverage on Target in a report on Thursday, May 22nd. They set an “equal weight” rating on the stock. Morgan Stanley dropped their price objective on shares of Target from $160.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Finally, Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.68.

Target Stock Performance

Shares of TGT stock opened at $93.40 on Tuesday. The firm has a 50 day moving average of $96.00 and a 200-day moving average of $117.31. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52 week low of $87.35 and a 52 week high of $167.40.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Wednesday, May 14th. Target’s payout ratio is 49.23%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Target Company 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.