Griffin Asset Management Inc. Sells 2,133 Shares of Target Corporation $TGT

Griffin Asset Management Inc. trimmed its stake in shares of Target Corporation (NYSE:TGT) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 67,473 shares of the retailer’s stock after selling 2,133 shares during the quarter. Griffin Asset Management Inc.’s holdings in Target were worth $6,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kozak & Associates Inc. lifted its position in shares of 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 buying an additional 253 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in shares of 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 buying an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in shares of Target during the 2nd quarter worth $29,000. WPG Advisers LLC bought a new stake in shares of Target during the 1st quarter worth $32,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Target during the 2nd quarter worth $31,000. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TGT shares. Royal Bank Of Canada upped their price objective on Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Jefferies Financial Group dropped their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Barclays restated an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Citigroup increased their target price on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Target currently has a consensus rating of “Hold” and a consensus price target of $109.65.

Target Trading Down 3.7%

Shares of TGT stock opened at $85.79 on Monday. The stock has a market cap of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The stock has a 50-day moving average of $94.48 and a 200-day moving average of $96.82. 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 $85.36 and a 1-year high of $161.50.

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

Target Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. Target’s payout ratio is currently 53.15%.

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.