Logan Capital Management Inc. Trims Stock Position in Target Corporation $TGT

Logan Capital Management Inc. reduced its stake in shares of Target Corporation (NYSE:TGT) by 53.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,707 shares of the retailer’s stock after selling 27,732 shares during the quarter. Logan Capital Management Inc.’s holdings in Target were worth $2,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kozak & Associates Inc. grew its position in shares of Target by 2,530.0% in 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 period. Raleigh Capital Management Inc. grew its position in shares of Target by 63.4% in 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 period. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target in the 2nd quarter worth about $29,000. WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter worth about $32,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Target in the 2nd quarter worth about $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. BTIG Research initiated coverage on shares of Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Finally, Guggenheim reiterated a “buy” rating and issued a $115.00 price target on shares of Target in a research note on Monday. Nine research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $109.00.

Target Price Performance

TGT opened at $97.06 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a market capitalization of $44.10 billion, a P/E ratio of 11.31, a P/E/G ratio of 2.85 and a beta of 1.18. The company’s 50-day simple moving average is $91.67 and its two-hundred day simple moving average is $96.43. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 53.15%.

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.