Camden National Bank cut its position in shares of Target Co. (NYSE:TGT – Get Rating) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,918 shares of the retailer’s stock after selling 207 shares during the quarter. Target accounts for about 1.6% of Camden National Bank’s portfolio, making the stock its 25th biggest holding. Camden National Bank’s holdings in Target were worth $6,963,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of TGT. HHM Wealth Advisors LLC grew its stake in Target by 75.6% in the second quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC grew its stake in Target by 96.2% in the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. EdgeRock Capital LLC bought a new position in Target in the third quarter valued at approximately $34,000. Wellington Shields & Co. LLC bought a new position in Target in the second quarter valued at approximately $35,000. Finally, Aurora Private Wealth Inc. bought a new position in Target in the second quarter valued at approximately $37,000. 78.86% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on TGT. Truist Financial decreased their price target on Target from $165.00 to $151.00 and set a “hold” rating for the company in a research note on Thursday, November 17th. Raymond James cut their price objective on Target from $200.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Thursday, November 17th. Credit Suisse Group cut Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $165.00 to $160.00 in a research report on Tuesday, December 20th. The Goldman Sachs Group cut their price objective on Target from $205.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, November 17th. Finally, KeyCorp cut their price objective on Target from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, November 17th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $181.07.
Target Price Performance
Target (NYSE:TGT – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.61). The firm had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. Target had a return on equity of 30.51% and a net margin of 3.17%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.03 EPS. As a group, analysts expect that Target Co. will post 5.54 EPS for the current fiscal year.
Target Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.64%. The ex-dividend date is Tuesday, February 14th. Target’s payout ratio is presently 59.18%.
Target Company Profile
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
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