Target Corporation (NYSE:TGT) Stock Position Decreased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 62.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,390 shares of the retailer's stock after selling 8,797 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Target were worth $562,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares in the last quarter. FMR LLC increased its stake in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after buying an additional 1,358,348 shares during the period. Geode Capital Management LLC raised its position in shares of Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after buying an additional 470,990 shares in the last quarter. Norges Bank bought a new stake in shares of Target during the 4th quarter worth about $757,892,000. Finally, Northern Trust Corp lifted its stake in shares of Target by 16.3% in the 4th quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock worth $726,814,000 after acquiring an additional 754,883 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Down 1.3%

Shares of Target stock traded down $1.40 during midday trading on Thursday, hitting $104.05. The company's stock had a trading volume of 3,530,385 shares, compared to its average volume of 7,331,800. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $47.28 billion, a P/E ratio of 11.43, a PEG ratio of 2.97 and a beta of 1.22. The stock has a 50-day simple moving average of $96.72 and a 200-day simple moving average of $112.14.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 49.23%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TGT. Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $97.00 to $82.00 in a research note on Monday, May 12th. UBS Group decreased their price target on Target from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Mizuho dropped their price objective on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, KGI Securities set a $132.00 target price on Target in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Target has a consensus rating of "Hold" and an average price target of $116.70.

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.