Camden National Bank Has $8.42 Million Position in Target Co. (NYSE:TGT)

Camden National Bank reduced its holdings in Target Co. (NYSE:TGT) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,789 shares of the retailer’s stock after selling 788 shares during the quarter. Camden National Bank’s holdings in Target were worth $8,424,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Northside Capital Management LLC grew its position in shares of Target by 46.1% in the third quarter. Northside Capital Management LLC now owns 4,166 shares of the retailer’s stock valued at $445,000 after purchasing an additional 1,315 shares during the last quarter. Welch & Forbes LLC grew its position in shares of Target by 4.1% in the third quarter. Welch & Forbes LLC now owns 7,203 shares of the retailer’s stock valued at $770,000 after purchasing an additional 287 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Target by 309.1% in the third quarter. Larson Financial Group LLC now owns 1,444 shares of the retailer’s stock valued at $154,000 after purchasing an additional 1,091 shares during the last quarter. Affiance Financial LLC grew its position in shares of Target by 5.5% in the third quarter. Affiance Financial LLC now owns 13,089 shares of the retailer’s stock valued at $1,399,000 after purchasing an additional 679 shares during the last quarter. Finally, E&G Advisors LP acquired a new stake in shares of Target in the third quarter valued at about $238,000. 81.80% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the company. KeyCorp raised their price target on Target from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird set a $115.00 target price on shares of Target and gave the company a “buy” rating in a research note on Wednesday, August 21st. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $115.00 target price on shares of Target and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Guggenheim reiterated a “hold” rating on shares of Target in a research note on Wednesday, August 21st. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Target has a consensus rating of “Buy” and a consensus price target of $105.21.

TGT traded up $1.26 during midday trading on Friday, reaching $111.83. 4,562,119 shares of the company’s stock were exchanged, compared to its average volume of 4,113,514. The firm has a market capitalization of $55.45 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.54. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. Target Co. has a one year low of $60.15 and a one year high of $111.25. The business has a 50-day simple moving average of $107.22 and a two-hundred day simple moving average of $88.75.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 earnings per share. As a group, research analysts anticipate that Target Co. will post 6.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, November 19th. Target’s dividend payout ratio is 48.98%.

Target declared that its Board of Directors has approved a share repurchase program on Thursday, September 19th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the retailer to buy up to 9.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other Target news, insider Laysha Ward sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the completion of the transaction, the insider now owns 88,171 shares in the company, valued at $9,719,089.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Don H. Liu sold 4,140 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,478 shares of company stock valued at $8,915,363. Corporate insiders own 0.24% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

Further Reading: Technical Analysis

Institutional Ownership by Quarter for Target (NYSE:TGT)

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