Bangor Savings Bank Purchases 6,353 Shares of Target Co. (NYSE:TGT)

Bangor Savings Bank raised its position in Target Co. (NYSE:TGT) by 715.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,241 shares of the retailer’s stock after buying an additional 6,353 shares during the quarter. Bangor Savings Bank’s holdings in Target were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Target in the third quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its position in shares of Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Target in the third quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new position in Target during the third quarter worth about $38,000. Finally, Reston Wealth Management LLC bought a new position in shares of Target in the third quarter worth about $41,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 2.4 %

Shares of NYSE TGT opened at $139.08 on Tuesday. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $63.73 billion, a PE ratio of 14.75, a P/E/G ratio of 2.23 and a beta of 1.16. The company’s fifty day simple moving average is $138.38 and its 200 day simple moving average is $145.76.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Target Co. will post 8.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research reports. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Wednesday, November 20th. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Piper Sandler dropped their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Citigroup cut Target from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $188.00 to $130.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.57.

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.