Target Corporation $TGT Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lowered its holdings in Target Corporation (NYSE:TGT) by 40.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,389 shares of the retailer’s stock after selling 29,883 shares during the period. ARGA Investment Management LP’s holdings in Target were worth $3,892,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TGT. WFA of San Diego LLC acquired a new position in shares of Target in the 2nd quarter worth approximately $25,000. Raleigh Capital Management Inc. raised 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 buying an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the 2nd quarter valued at $29,000. Heartwood Wealth Advisors LLC acquired a new stake in Target in the third quarter worth about $27,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Target in the 2nd quarter worth approximately $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock opened at $108.04 on Friday. The firm has a market cap of $48.92 billion, a P/E ratio of 13.11, a P/E/G ratio of 11.58 and a beta of 1.12. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $145.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $97.63 and a 200 day simple moving average of $96.37.

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

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be issued 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 4.2%. Target’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TGT shares. Royal Bank Of Canada decreased their price target on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. BMO Capital Markets cut their price objective on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a report on Thursday, November 20th. Robert W. Baird cut their price objective on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Bank of America reduced their price target on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Finally, Mizuho lowered their target price on shares of Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $103.03.

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.