Target Corporation $TGT Holdings Trimmed by Independent Advisor Alliance

Independent Advisor Alliance reduced its position in shares of Target Corporation (NYSE:TGT) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,998 shares of the retailer’s stock after selling 5,879 shares during the period. Independent Advisor Alliance’s holdings in Target were worth $3,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Target by 14.7% in the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after acquiring an additional 6,607,982 shares during the last quarter. Norges Bank acquired a new stake in Target during the 2nd quarter worth about $578,009,000. State Street Corp lifted its stake in Target by 4.3% during the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after buying an additional 1,529,026 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Target by 133.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock worth $219,376,000 after buying an additional 1,273,129 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Target by 96.1% in the second quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock worth $213,616,000 after acquiring an additional 1,060,885 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TGT. Royal Bank Of Canada reduced their price target on shares of 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 reduced their target price on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a report on Thursday, November 20th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price on shares of Target in a research report on Monday, October 27th. Evercore ISI dropped their price target on Target from $100.00 to $95.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 9th. Finally, Bank of America decreased their price objective on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $103.03.

Target Price Performance

Shares of TGT opened at $105.40 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The firm has a market cap of $47.73 billion, a PE ratio of 12.79, a PEG ratio of 11.47 and a beta of 1.14. The firm’s 50 day moving average price is $99.30 and its 200 day moving average price is $96.29. Target Corporation has a twelve month low of $83.44 and a twelve month high of $140.39.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. During the same period last year, the company earned $1.85 earnings per share. 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. As a group, research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is currently 55.34%.

Target Company Profile

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.