Glenview Trust Co Decreases Stock Position in Target Corporation $TGT

Glenview Trust Co lessened its holdings in Target Corporation (NYSE:TGT) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 233,252 shares of the retailer’s stock after selling 9,064 shares during the quarter. Glenview Trust Co’s holdings in Target were worth $20,923,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial lifted their price target on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. JPMorgan Chase & Co. decreased their target price on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Bank of America dropped their target price on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, November 20th. Jefferies Financial Group reissued a “buy” rating and set a $115.00 price target on shares of Target in a research report on Thursday, December 18th. Finally, Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Ten investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $103.90.

Target Trading Up 2.6%

Target stock opened at $115.61 on Tuesday. The firm has a market cap of $52.35 billion, a PE ratio of 14.03, a P/E/G ratio of 11.83 and a beta of 1.14. Target Corporation has a 12 month low of $83.44 and a 12 month high of $131.70. The stock’s 50 day simple moving average is $104.45 and its two-hundred day simple moving average is $96.99. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99.

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

Target Dividend Announcement

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

About Target

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.