Target Co. (NYSE:TGT) Shares Bought by Grove Bank & Trust

Grove Bank & Trust grew its holdings in Target Co. (NYSE:TGT) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 747 shares of the retailer’s stock after purchasing an additional 140 shares during the quarter. Grove Bank & Trust’s holdings in Target were worth $101,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Ballast Inc. grew its position in shares of Target by 10.5% in the fourth quarter. Ballast Inc. now owns 12,946 shares of the retailer’s stock valued at $1,750,000 after purchasing an additional 1,225 shares during the last quarter. Polianta Ltd grew its position in shares of Target by 39.2% in the fourth quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock valued at $1,392,000 after purchasing an additional 2,900 shares during the last quarter. Joule Financial LLC grew its position in shares of Target by 7.2% in the fourth quarter. Joule Financial LLC now owns 1,672 shares of the retailer’s stock valued at $226,000 after purchasing an additional 113 shares during the last quarter. Whitaker Myers Wealth Managers LTD. acquired a new stake in Target during the fourth quarter worth approximately $298,000. Finally, Monarch Capital Management Inc. boosted its position in Target by 1.1% during the fourth quarter. Monarch Capital Management Inc. now owns 14,217 shares of the retailer’s stock worth $1,922,000 after acquiring an additional 160 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT stock opened at $133.62 on Tuesday. The firm has a market cap of $61.22 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The firm has a fifty day moving average of $136.13 and a two-hundred day moving average of $145.15.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TGT. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Piper Sandler cut their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Bank of America cut their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $158.23.

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.