Eastern Bank Sells 205 Shares of Target Corporation $TGT

Eastern Bank cut its position in Target Corporation (NYSE:TGT) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,863 shares of the retailer’s stock after selling 205 shares during the quarter. Eastern Bank’s holdings in Target were worth $184,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its holdings in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares in the last quarter. Guardian Wealth Advisors LLC increased its stake in Target by 2.6% during the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Target by 9.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after purchasing an additional 106 shares in the last quarter. Truvestments Capital LLC increased its stake in Target by 21.4% during the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after purchasing an additional 107 shares in the last quarter. Finally, Formidable Asset Management LLC increased its position in shares of Target by 1.2% during the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock worth $1,012,000 after acquiring an additional 111 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TGT. Wedbush reissued an “outperform” rating on shares of Target in a report on Thursday, July 17th. Evercore ISI decreased their price target on Target from $105.00 to $103.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Jefferies Financial Group decreased their price target on Target from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Barclays reiterated an “underweight” rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.65.

Target Stock Down 3.7%

Target stock opened at $85.79 on Monday. The firm has a 50 day moving average price of $94.48 and a 200-day moving average price of $96.82. Target Corporation has a twelve month low of $85.36 and a twelve month high of $161.50. The company has a market capitalization of $38.98 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.48 and a beta of 1.18. 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 released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the firm earned $2.57 EPS. Target’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts predict that Target Corporation will post 8.69 EPS 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 represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. 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.