First Republic Investment Management Inc. Sells 3,437 Shares of Target Co. (TGT)

First Republic Investment Management Inc. lessened its stake in Target Co. (NYSE:TGT) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,753 shares of the retailer’s stock after selling 3,437 shares during the period. First Republic Investment Management Inc. owned about 0.09% of Target worth $30,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Trust Co lifted its stake in shares of Target by 129.7% in the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC lifted its stake in shares of Target by 2,200.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after acquiring an additional 1,826 shares during the last quarter. Security Asset Management purchased a new position in Target during the 4th quarter valued at about $115,000. First Mercantile Trust Co. purchased a new position in Target during the 4th quarter valued at about $124,000. Finally, Jacobi Capital Management LLC increased its holdings in Target by 109.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after purchasing an additional 1,310 shares during the period. 88.32% of the stock is owned by institutional investors.

Target Co. (TGT) opened at $72.96 on Thursday. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $39,604.71, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76.

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.40%. Target’s dividend payout ratio (DPR) is 51.88%.

TGT has been the topic of a number of research analyst reports. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target on the stock. in a report on Monday, November 20th. Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and boosted their price target for the company from $57.00 to $70.00 in a report on Wednesday, January 10th. Morgan Stanley reduced their price target on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday, November 16th. Barclays set a $45.00 price target on Target and gave the company a “sell” rating in a report on Wednesday, November 15th. Finally, MKM Partners set a $77.00 price target on Target and gave the company a “buy” rating in a report on Thursday, December 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Target presently has a consensus rating of “Hold” and an average target price of $69.56.

In related news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert M. Harrison sold 8,557 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock worth $1,185,484 in the last quarter. Company insiders own 0.25% of the company’s stock.

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Target Company 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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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