Plimoth Trust Co. LLC Has $793,000 Position in Target Corporation $TGT

Plimoth Trust Co. LLC lessened its holdings in shares of Target Corporation (NYSE:TGT) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,037 shares of the retailer’s stock after selling 550 shares during the period. Plimoth Trust Co. LLC’s holdings in Target were worth $793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Global Assets Advisory LLC bought a new position in Target in the 2nd quarter worth approximately $31,000. Beacon Financial Advisory LLC grew its stake in shares of Target by 5.8% in the second quarter. Beacon Financial Advisory LLC now owns 5,916 shares of the retailer’s stock worth $584,000 after acquiring an additional 325 shares during the last quarter. Simplicity Wealth LLC bought a new position in Target during the second quarter worth $577,000. OLD National Bancorp IN raised its stake in Target by 46.3% during the 2nd quarter. OLD National Bancorp IN now owns 117,568 shares of the retailer’s stock valued at $11,598,000 after purchasing an additional 37,221 shares during the last quarter. Finally, Berger Financial Group Inc boosted its holdings in Target by 3.6% in the 2nd quarter. Berger Financial Group Inc now owns 6,116 shares of the retailer’s stock valued at $603,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $89.03 on Monday. The company has a 50 day moving average of $95.89 and a 200-day moving average of $97.43. 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 Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The firm has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s payout ratio is 53.15%.

Analyst Ratings Changes

A number of research analysts have recently commented on TGT shares. Truist Financial cut their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Wedbush restated an “outperform” rating on shares of Target in a research report 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 for the company in a research report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $109.71.

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.