Pinnacle Associates Ltd. Sells 1,242 Shares of Target Corporation $TGT

Pinnacle Associates Ltd. reduced its stake in shares of Target Corporation (NYSE:TGT) by 6.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,022 shares of the retailer’s stock after selling 1,242 shares during the period. Pinnacle Associates Ltd.’s holdings in Target were worth $1,876,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have recently weighed in on TGT shares. Evercore ISI lowered their price objective on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Wedbush restated an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Jefferies Financial Group lowered their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Finally, UBS Group lowered their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.00.

Target Price Performance

Shares of NYSE:TGT opened at $92.92 on Monday. The stock has a market cap of $42.22 billion, a PE ratio of 10.83, a PEG ratio of 2.74 and a beta of 1.18. The company’s fifty day moving average is $91.37 and its 200 day moving average is $96.48. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This is a boost 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 dividend on an annualized basis and a yield of 4.9%. Target’s payout ratio is 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.