Kennebec Savings Bank Sells 218 Shares of Target Co. (NYSE:TGT)

Kennebec Savings Bank reduced its position in shares of Target Co. (NYSE:TGT) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,149 shares of the retailer’s stock after selling 218 shares during the quarter. Kennebec Savings Bank’s holdings in Target were worth $576,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Advisory Alpha LLC grew its holdings in Target by 7.2% during the 2nd quarter. Advisory Alpha LLC now owns 1,435 shares of the retailer’s stock worth $213,000 after acquiring an additional 96 shares during the period. Creekside Partners acquired a new stake in shares of Target during the second quarter worth $343,000. Sanctuary Advisors LLC bought a new stake in Target in the second quarter valued at about $15,591,000. Greater Midwest Financial Group LLC acquired a new position in Target in the second quarter valued at about $242,000. Finally, Mattson Financial Services LLC bought a new position in Target during the second quarter worth about $2,681,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 0.2 %

TGT stock opened at $140.37 on Friday. The company has a market capitalization of $64.32 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16. The business’s 50 day moving average price is $134.17 and its two-hundred day moving average price is $144.61. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 EPS. As a group, analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.19%. Target’s dividend payout ratio is presently 47.51%.

Analysts Set New Price Targets

TGT has been the topic of a number of analyst reports. TD Cowen cut their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Piper Sandler decreased their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Evercore ISI decreased their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $157.70.

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.