PNC Financial Services Group Inc. Sells 45,438 Shares of Target Corporation $TGT

PNC Financial Services Group Inc. trimmed its position in shares of Target Corporation (NYSE:TGT) by 9.1% during the third quarter, Holdings Channel.com reports. The firm owned 452,979 shares of the retailer’s stock after selling 45,438 shares during the period. PNC Financial Services Group Inc.’s holdings in Target were worth $40,632,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. WFA of San Diego LLC bought a new stake in Target during the 2nd quarter valued at $25,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Target during the third quarter valued at about $27,000. Tripletail Wealth Management LLC acquired a new position in shares of Target during the third quarter valued at about $31,000. Key Financial Inc increased its position in shares of Target by 77.4% during the third quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. Finally, VSM Wealth Advisory LLC raised its holdings in shares of Target by 1,113.8% in the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock worth $35,000 after acquiring an additional 323 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TGT. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. JPMorgan Chase & Co. cut their target price on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 price target on shares of Target in a report on Wednesday, February 11th. Evercore ISI set a $103.00 price objective on Target in a research note on Tuesday, February 10th. Finally, Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.90.

Target Trading Up 2.6%

Shares of TGT opened at $115.61 on Tuesday. The stock has a market capitalization of $52.35 billion, a P/E ratio of 14.03, a PEG ratio of 11.83 and a beta of 1.14. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $104.45 and a two-hundred day simple moving average of $96.99. Target Corporation has a twelve month low of $83.44 and a twelve month high of $131.70.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s payout ratio is currently 55.34%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.