Penobscot Investment Management Company Inc. Has $798,000 Stock Holdings in Target Co. (NYSE:TGT)

Penobscot Investment Management Company Inc. trimmed its position in Target Co. (NYSE:TGT) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,901 shares of the retailer’s stock after selling 200 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Target were worth $798,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Target in the third quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of Target during the 4th quarter valued at $29,000. FSA Wealth Management LLC acquired a new position in shares of Target in the 3rd quarter valued at $36,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TGT shares. Piper Sandler decreased their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Stifel Nicolaus lowered their target price on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. Telsey Advisory Group reduced their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI lowered their price objective on shares of Target from $135.00 to $130.00 and set an “in-line” rating for the company in a research report on Wednesday, March 5th. Finally, Roth Capital set a $122.00 target price on Target in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $145.55.

Target Trading Up 0.6 %

Shares of Target stock opened at $106.05 on Thursday. The stock has a market cap of $48.32 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.94 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $101.76 and a 12-month high of $181.86. The business’s 50 day moving average is $124.09 and its 200-day moving average is $137.08.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Equities research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Target 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.