MUFG Americas Holdings Corp Sells 21,806 Shares of Target Co. (TGT)

MUFG Americas Holdings Corp trimmed its position in Target Co. (NYSE:TGT) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,585 shares of the retailer’s stock after selling 21,806 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Target were worth $8,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bedell Frazier Investment Counseling LLC acquired a new position in shares of Target in the third quarter valued at $219,000. Security Asset Management acquired a new position in shares of Target in the fourth quarter valued at $115,000. Heritage Trust Co raised its stake in shares of Target by 129.7% in the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of Target in the fourth quarter valued at $124,000. Finally, SevenBridge Financial Group LLC raised its stake in shares of Target by 2,200.0% in the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after purchasing an additional 1,826 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.

TGT has been the subject of a number of recent research reports. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $64.00 target price for the company. in a research note on Monday, November 20th. Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and upped their target price for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley dropped their price objective on Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Finally, Barclays set a $45.00 price objective on Target and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Target has a consensus rating of “Hold” and a consensus price target of $69.56.

In related news, insider Robert M. Harrison sold 8,557 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the transaction, the insider now owns 13,288 shares in the company, valued at $1,019,721.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock worth $1,185,484 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Shares of Target Co. (NYSE TGT) opened at $75.70 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. The company has a market capitalization of $41,333.27, a price-to-earnings ratio of 15.84, a PEG ratio of 3.59 and a beta of 0.76. Target Co. has a 1-year low of $48.56 and a 1-year high of $78.70.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. research analysts expect that Target Co. will post 4.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s payout ratio is presently 51.88%.

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Target Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target (NYSE:TGT)

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