Fidelity D & D Bancorp Inc. Lowers Stake in Target Co. (NYSE:TGT)

Fidelity D & D Bancorp Inc. reduced its position in shares of Target Co. (NYSE:TGT) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,334 shares of the retailer’s stock after selling 177 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Target were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. lifted its stake in Target by 24.5% in the 1st quarter. Financial Management Professionals Inc. now owns 2,171 shares of the retailer’s stock valued at $385,000 after buying an additional 427 shares in the last quarter. Asio Capital LLC lifted its stake in Target by 1.7% in the 1st quarter. Asio Capital LLC now owns 27,731 shares of the retailer’s stock valued at $4,914,000 after buying an additional 464 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Target by 234.0% in the 1st quarter. AMF Tjanstepension AB now owns 623,520 shares of the retailer’s stock valued at $110,524,000 after buying an additional 436,849 shares in the last quarter. Norwood Financial Corp lifted its stake in Target by 15.0% in the 1st quarter. Norwood Financial Corp now owns 765 shares of the retailer’s stock valued at $136,000 after buying an additional 100 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in Target by 4.1% in the 1st quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock valued at $328,000 after buying an additional 73 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Target from $176.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Guggenheim raised their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI raised their target price on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Truist Financial decreased their target price on shares of Target from $160.00 to $153.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company raised their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.61.

Target Stock Up 0.9 %

Shares of NYSE:TGT traded up $1.32 during trading on Friday, hitting $148.04. The company’s stock had a trading volume of 12,772,526 shares, compared to its average volume of 3,818,235. The business has a 50 day moving average price of $152.97 and a two-hundred day moving average price of $153.10. The company has a market capitalization of $68.49 billion, a PE ratio of 16.63, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. As a group, research analysts expect that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The company 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 dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s payout ratio is 49.38%.

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.