Independence Bank of Kentucky Has $1.09 Million Stake in Target Corporation $TGT

Independence Bank of Kentucky lowered its stake in Target Corporation (NYSE:TGT) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,092 shares of the retailer’s stock after selling 780 shares during the quarter. Independence Bank of Kentucky’s holdings in Target were worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lazari Capital Management Inc. increased its position in shares of Target by 8.8% in the second quarter. Lazari Capital Management Inc. now owns 2,150 shares of the retailer’s stock valued at $212,000 after acquiring an additional 174 shares during the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Target in the second quarter valued at about $7,350,000. Patton Albertson Miller Group LLC increased its position in shares of Target by 15.9% in the second quarter. Patton Albertson Miller Group LLC now owns 45,726 shares of the retailer’s stock valued at $4,511,000 after acquiring an additional 6,268 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Target by 1.0% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 340,009 shares of the retailer’s stock valued at $33,542,000 after acquiring an additional 3,441 shares during the last quarter. Finally, Financial Partners Group LLC acquired a new stake in shares of Target in the second quarter valued at about $533,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 1.0%

Shares of NYSE:TGT opened at $88.04 on Monday. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The stock has a market cap of $40.01 billion, a PE ratio of 10.26, a P/E/G ratio of 2.53 and a beta of 1.16. The business has a 50 day moving average of $97.53 and a 200-day moving average of $97.97. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research 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 paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

A number of research firms recently issued reports on TGT. Citigroup lifted their target price on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their price target on Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Bank of America reiterated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Finally, Loop Capital set a $95.00 price target on Target in a report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.48.

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.