Bangor Savings Bank Decreases Stock Holdings in Target Co. (NYSE:TGT)

Bangor Savings Bank reduced its stake in shares of Target Co. (NYSE:TGT) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 977 shares of the retailer’s stock after selling 118 shares during the quarter. Bangor Savings Bank’s holdings in Target were worth $173,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in Target during the 4th quarter valued at about $28,000. Private Wealth Management Group LLC acquired a new position in Target during the 4th quarter valued at about $29,000. Rakuten Securities Inc. acquired a new position in Target during the 4th quarter valued at about $29,000. Scarborough Advisors LLC acquired a new position in Target during the 4th quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Target during the 4th quarter valued at about $33,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE TGT opened at $146.13 on Monday. The company has a market cap of $67.61 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The stock’s 50 day simple moving average is $154.75 and its 200-day simple moving average is $152.92. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Target Co. will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 annualized dividend and a yield of 3.07%. Target’s dividend payout ratio (DPR) is 49.38%.

Analysts Set New Price Targets

TGT has been the topic of a number of research reports. Oppenheimer increased their price objective on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Wednesday, May 22nd. Jefferies Financial Group increased their price objective on Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Barclays increased their price objective on Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, DA Davidson increased their price objective on Target from $167.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus target price of $177.61.

Target Company 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.