First Pacific Financial Lowers Stock Position in Target Corporation $TGT

First Pacific Financial lessened its stake in Target Corporation (NYSE:TGT) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,841 shares of the retailer’s stock after selling 448 shares during the period. First Pacific Financial’s holdings in Target were worth $675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its position in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares in the last quarter. Kozak & Associates Inc. lifted its stake in Target by 2,530.0% during the second 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 during the second quarter worth about $29,000. WPG Advisers LLC purchased a new position in Target in the first quarter valued at $32,000. Finally, 1248 Management LLC purchased a new position in Target in the first quarter valued at $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America reissued an “underperform” rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Wolfe Research assumed coverage on Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective for the company. Finally, Guggenheim reissued a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.48.

Target Price Performance

Shares of NYSE:TGT opened at $89.82 on Wednesday. The firm has a market capitalization of $40.81 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 2.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The business’s 50 day simple moving average is $96.93 and its 200-day simple moving average is $97.80. Target Corporation has a 12 month low of $86.30 and a 12 month high of $161.50.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s payout ratio is presently 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.