Kennebec Savings Bank Sells 158 Shares of Target Corporation $TGT

Kennebec Savings Bank trimmed its position in Target Corporation (NYSE:TGT) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,239 shares of the retailer’s stock after selling 158 shares during the period. Kennebec Savings Bank’s holdings in Target were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Kozak & Associates Inc. increased its holdings in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the 2nd quarter worth approximately $29,000. WPG Advisers LLC bought a new stake in Target during the 1st quarter worth approximately $32,000. Finally, 1248 Management LLC bought a new stake in Target during the 1st quarter worth approximately $38,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Barclays restated an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Citigroup increased their price objective on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Loop Capital set a $95.00 target price on Target in a research note on Thursday, July 17th. Finally, Jefferies Financial Group reduced their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $110.48.

Target Stock Down 0.6%

Shares of NYSE:TGT opened at $89.20 on Thursday. The stock’s 50-day moving average price is $96.56 and its 200-day moving average price is $97.74. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The stock has a market capitalization of $40.53 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

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

Target Increases Dividend

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