Target Co. (NYSE:TGT) Shares Acquired by Kennebec Savings Bank

Kennebec Savings Bank increased its stake in Target Co. (NYSE:TGT) by 6.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,397 shares of the retailer’s stock after buying an additional 248 shares during the quarter. Kennebec Savings Bank’s holdings in Target were worth $459,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Nicholas Company Inc. grew its stake in shares of Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Target in the fourth quarter valued at about $6,459,000. Sierra Summit Advisors LLC boosted its holdings in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after purchasing an additional 3,231 shares during the last quarter. Finally, Viking Fund Management LLC boosted its holdings in Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock valued at $6,262,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Target Stock Up 4.1%

Shares of Target stock opened at $97.33 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The business’s 50 day simple moving average is $95.24 and its 200-day simple moving average is $116.12. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.22. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s dividend payout ratio is currently 49.23%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus reduced their price target on Target from $130.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, March 20th. Baird R W downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Citigroup reduced their price target on Target from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price target on Target and gave the company a “market perform” rating in a report on Thursday, May 22nd. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.