CNB Bank Cuts Stock Position in Target Corporation $TGT

CNB Bank lessened its stake in shares of Target Corporation (NYSE:TGT) by 13.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,091 shares of the retailer’s stock after selling 314 shares during the quarter. CNB Bank’s holdings in Target were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of TGT. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $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 shares of Target during the second quarter worth approximately $595,839,000. Pacer Advisors Inc. raised its stake in shares of Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Target during the first quarter worth approximately $186,361,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $94.34 on Friday. The business’s 50-day moving average price is $91.98 and its two-hundred day moving average price is $96.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The company has a market capitalization of $42.87 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 during the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 4.8%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is presently 53.15%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup upped their price objective on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Wolfe Research assumed coverage on Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Barclays reaffirmed an “underweight” rating and set a $91.00 price objective on shares of Target in a report on Monday, July 21st. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Bank of America reaffirmed an “underperform” rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Nine 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 stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target 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.