Target Corporation $TGT Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in Target Corporation (NYSE:TGT) by 0.9% during the second quarter, HoldingsChannel.com reports. The fund owned 857,445 shares of the retailer’s stock after selling 8,024 shares during the period. Rhumbline Advisers’ holdings in Target were worth $84,587,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGT. Punch & Associates Investment Management Inc. boosted its holdings in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after acquiring an additional 2,869 shares during the last quarter. PDT Partners LLC purchased a new stake in Target in the first quarter valued at $4,623,000. Mattern Capital Management LLC lifted its stake in shares of Target by 7.6% in the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after purchasing an additional 5,573 shares during the last quarter. Finally, Northern Financial Advisors Inc purchased a new position in shares of Target during the 2nd quarter worth $370,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock opened at $87.51 on Monday. The firm’s fifty day simple moving average is $90.13 and its 200-day simple moving average is $95.90. Target Corporation has a 12 month low of $83.44 and a 12 month high of $145.08. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.28 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is 55.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price objective on shares of Target in a research note on Friday, November 14th. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Jefferies Financial Group decreased their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Guggenheim reaffirmed a “buy” rating and set a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Finally, Cowen restated a “hold” rating on shares of Target in a research note on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.97.

Target Company 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.