Private Trust Co. NA Reduces Position in Target Corporation $TGT

Private Trust Co. NA cut its holdings in shares of Target Corporation (NYSE:TGT) by 30.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,859 shares of the retailer’s stock after selling 3,488 shares during the quarter. Private Trust Co. NA’s holdings in Target were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. lifted its holdings in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Target during the second quarter valued at about $595,839,000. Pacer Advisors Inc. lifted its holdings in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Target in the first quarter worth about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after buying an additional 1,406,653 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 0.8%

TGT stock opened at $90.79 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $93.07 and its 200 day moving average is $96.36. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Truist Financial lowered their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.00.

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.