Chevy Chase Trust Holdings LLC Lowers Stake in Target Corporation $TGT

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Target Corporation (NYSE:TGT) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 298,848 shares of the retailer’s stock after selling 2,394 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Target were worth $29,481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of TGT. Raleigh Capital Management Inc. grew its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Kozak & Associates Inc. grew its position in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target in the second quarter valued at about $29,000. Global Assets Advisory LLC acquired a new position in shares of Target during the second quarter worth about $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Target during the first quarter worth about $32,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TGT shares. Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.00.

Target Stock Up 0.8%

TGT stock opened at $90.79 on Friday. The company has a market cap of $41.25 billion, a P/E ratio of 10.58, a P/E/G ratio of 2.62 and a beta of 1.18. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The company’s 50-day moving average price is $93.07 and its 200 day moving average price is $96.42. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is currently 53.15%.

Target 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.