Piscataqua Savings Bank Sells 150 Shares of Target Co. (NYSE:TGT)

Piscataqua Savings Bank trimmed its position in Target Co. (NYSE:TGT) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,710 shares of the retailer’s stock after selling 150 shares during the quarter. Piscataqua Savings Bank’s holdings in Target were worth $178,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Butensky & Cohen Financial Security Inc. increased its stake in shares of Target by 4.2% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 27,617 shares of the retailer’s stock valued at $2,882,000 after purchasing an additional 1,103 shares during the last quarter. Radnor Capital Management LLC grew its position in Target by 6.1% in the first quarter. Radnor Capital Management LLC now owns 9,695 shares of the retailer’s stock valued at $1,012,000 after acquiring an additional 561 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its position in Target by 37.1% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,072 shares of the retailer’s stock valued at $1,472,000 after acquiring an additional 4,078 shares during the last quarter. Davis Capital Management bought a new position in Target in the first quarter valued at about $181,000. Finally, Intellectus Partners LLC grew its position in Target by 18.3% in the first quarter. Intellectus Partners LLC now owns 6,956 shares of the retailer’s stock valued at $726,000 after acquiring an additional 1,076 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the 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 transaction, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Target Stock Up 4.1%

Shares of Target stock opened at $97.33 on Friday. Target Co. has a one year low of $87.35 and a one year high of $167.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock’s 50-day moving average is $95.24 and its 200 day moving average is $116.16. The firm has a market cap 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 (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. Equities research analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target’s dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TGT. Piper Sandler set a $94.00 price target on shares of Target and gave the company a “neutral” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. KGI Securities set a $132.00 target price on shares of Target in a research note on Wednesday, March 5th. Guggenheim decreased their target price on shares of Target from $155.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 27th. Finally, Sanford C. Bernstein lowered Target from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Hold” and an average price target of $116.70.

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.