Penobscot Investment Management Company Inc. Makes New $1.04 Million Investment in Target Co. (NYSE:TGT)

Penobscot Investment Management Company Inc. acquired a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 7,316 shares of the retailer’s stock, valued at approximately $1,042,000.

Several other large investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Target by 1.3% during the 4th quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock worth $760,000 after buying an additional 70 shares in the last quarter. Beacon Financial Advisory LLC boosted its holdings in shares of Target by 1.0% during the 4th quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock worth $1,005,000 after purchasing an additional 72 shares during the last quarter. Janiczek Wealth Management LLC boosted its holdings in shares of Target by 18.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 494 shares of the retailer’s stock worth $70,000 after purchasing an additional 78 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in shares of Target by 4.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,887 shares of the retailer’s stock worth $209,000 after purchasing an additional 80 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Target by 0.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 22,760 shares of the retailer’s stock worth $2,517,000 after purchasing an additional 83 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of several recent research reports. Truist Financial boosted their target price on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Roth Mkm boosted their target price on Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Evercore ISI lowered their target price on Target from $183.00 to $180.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Oppenheimer boosted their target price on Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Morgan Stanley upped their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Down 1.7 %

NYSE:TGT opened at $160.97 on Wednesday. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The stock’s fifty day moving average is $166.02 and its two-hundred day moving average is $144.21. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $74.32 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.27%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by company insiders.

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.