Huntington National Bank Lowers Stock Holdings in Target Corporation $TGT

Huntington National Bank trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 21.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 63,878 shares of the retailer’s stock after selling 17,528 shares during the period. Huntington National Bank’s holdings in Target were worth $6,302,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TGT. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in shares of Target by 7.7% during the first quarter. Strategic Blueprint LLC now owns 2,924 shares of the retailer’s stock valued at $305,000 after purchasing an additional 208 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Target by 29.5% during the first quarter. World Investment Advisors now owns 9,595 shares of the retailer’s stock valued at $1,001,000 after purchasing an additional 2,187 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Target by 8.0% during the first quarter. Crossmark Global Holdings Inc. now owns 80,418 shares of the retailer’s stock valued at $8,392,000 after purchasing an additional 5,941 shares during the last quarter. Finally, Bank Hapoalim BM grew its holdings in shares of Target by 48.1% during the first quarter. Bank Hapoalim BM now owns 2,755 shares of the retailer’s stock valued at $288,000 after buying an additional 895 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Bank of America reiterated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. DA Davidson cut their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.00.

Target Trading Down 1.6%

NYSE:TGT opened at $90.02 on Wednesday. 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 12 month low of $85.36 and a 12 month high of $158.42. The company has a market cap of $40.91 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18. The company has a 50 day simple moving average of $91.14 and a two-hundred day simple moving average of $96.44.

Target (NYSE:TGT) last posted 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. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 earnings per share 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 paid a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend 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.