Penobscot Investment Management Company Inc. Sells 203 Shares of Target Corporation $TGT

Penobscot Investment Management Company Inc. reduced its stake in Target Corporation (NYSE:TGT) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,416 shares of the retailer’s stock after selling 203 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Target were worth $436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TGT. Kozak & Associates Inc. lifted its stake in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares during the period. Investment Research & Advisory Group Inc. purchased a new position in shares of Target in the second quarter valued at about $29,000. WPG Advisers LLC bought a new position in shares of Target in the first quarter worth about $32,000. Finally, 1248 Management LLC purchased a new stake in shares of Target during the first quarter worth about $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TGT. UBS Group lowered their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday. Citigroup upped their target price on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Jefferies Financial Group cut their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.71.

Target Trading Down 0.5%

Shares of NYSE TGT opened at $89.03 on Friday. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The business’s 50 day moving average is $95.89 and its two-hundred day moving average is $97.48. The stock has a market capitalization of $40.46 billion, a P/E ratio of 10.38, a PEG ratio of 2.57 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.1%. Target’s payout ratio is presently 53.15%.

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.