FORA Capital LLC Reduces Stock Position in Target Corporation $TGT

FORA Capital LLC reduced its holdings in shares of Target Corporation (NYSE:TGT) by 18.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,582 shares of the retailer’s stock after selling 23,832 shares during the quarter. Target accounts for about 1.2% of FORA Capital LLC’s investment portfolio, making the stock its 15th largest holding. FORA Capital LLC’s holdings in Target were worth $10,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Punch & Associates Investment Management Inc. increased its position in shares of Target by 48.1% in 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 holdings in Target by 27.7% in the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying an additional 2,869 shares during the last quarter. PDT Partners LLC acquired a new stake in Target during the first quarter valued at approximately $4,623,000. LBP AM SA acquired a new stake in Target during the second quarter valued at approximately $5,427,000. Finally, Mattern Capital Management LLC lifted its holdings in Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after buying an additional 5,573 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TGT. Mizuho dropped their price target on Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 target price on shares of Target in a report on Friday, November 14th. Jefferies Financial Group reduced their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. BMO Capital Markets lowered their price objective on shares of Target from $95.00 to $90.00 and set a “market perform” rating for the company in a research report on Thursday, November 20th. Finally, Wolfe Research assumed coverage on shares of Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Target presently has an average rating of “Hold” and a consensus price target of $102.62.

Target Trading Up 0.1%

Shares of NYSE:TGT opened at $97.08 on Friday. 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 company’s 50-day moving average price is $91.03 and its 200 day moving average price is $95.37. The company has a market cap of $43.96 billion, a PE ratio of 11.78, a P/E/G ratio of 10.56 and a beta of 1.13. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $145.08.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $25.27 billion during 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%. Target’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 55.34%.

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.