Penobscot Investment Management Company Inc. Sells 200 Shares of Target Co. (NYSE:TGT)

Penobscot Investment Management Company Inc. lessened its stake in shares of Target Co. (NYSE:TGT) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,901 shares of the retailer’s stock after selling 200 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Target were worth $798,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Legacy Investment Solutions LLC bought a new stake in shares of Target during the third quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in Target during the 4th quarter worth approximately $29,000. FSA Wealth Management LLC acquired a new position in Target in the 3rd quarter valued at $36,000. MCF Advisors LLC increased its position in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $106.05 on Thursday. The stock’s 50-day moving average is $124.09 and its 200-day moving average is $137.08. Target Co. has a 1-year low of $101.76 and a 1-year high of $181.86. 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 stock has a market cap of $48.32 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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

Target Announces Dividend

The business 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 $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.22%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent research reports. Piper Sandler lowered their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Oppenheimer cut their price target on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their target price on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $145.55.

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.