FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $508,000 Stock Position in Target Co. (NYSE:TGT)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH trimmed its stake in Target Co. (NYSE:TGT) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,869 shares of the retailer’s stock after selling 111 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Target were worth $508,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TGT. Ables Iannone Moore & Associates Inc. bought a new position in shares of Target in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Target during the 4th quarter valued at approximately $29,000. Scarborough Advisors LLC bought a new position in Target in the 4th quarter valued at approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Target in the fourth quarter valued at approximately $33,000. 79.73% of the stock is owned by institutional investors.

Target Price Performance

NYSE:TGT traded down $0.39 during trading hours on Tuesday, hitting $145.35. 1,024,276 shares of the company’s stock traded hands, compared to its average volume of 3,915,472. The firm has a market cap of $67.24 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.39 and a beta of 1.19. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The business’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $153.33. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. On average, research analysts anticipate that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.08%. Target’s payout ratio is 49.38%.

Analyst Ratings Changes

A number of brokerages have issued reports on TGT. Evercore ISI upped their target price on Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Morgan Stanley dropped their target price on shares of Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Stifel Nicolaus boosted their price objective on Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Tigress Financial upped their target price on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company raised their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

About Target

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.