Grove Bank & Trust Boosts Stake in Target Co. (NYSE:TGT)

Grove Bank & Trust increased its stake in shares of Target Co. (NYSE:TGT) by 23.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 747 shares of the retailer’s stock after purchasing an additional 140 shares during the period. Grove Bank & Trust’s holdings in Target were worth $101,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of Target during the 3rd quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted 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 purchasing an additional 133 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Target during the 3rd quarter worth approximately $36,000. Catalyst Capital Advisors LLC purchased a new position in Target in the 3rd quarter valued at approximately $38,000. Finally, First Financial Corp IN boosted its position in Target by 330.8% in the 4th quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock valued at $38,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.3 %

NYSE TGT opened at $133.62 on Tuesday. The stock has a market capitalization 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. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The firm has a 50-day moving average price of $136.13 and a 200 day moving average price of $145.15. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.35%. Target’s payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TGT shares. JPMorgan Chase & Co. decreased their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and decreased their price target for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Guggenheim decreased their price target on shares of Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $165.00 price target on shares of Target in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $158.23.

About Target

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.