First Horizon Advisors Inc. Sells 1,968 Shares of Target Corporation $TGT

First Horizon Advisors Inc. lessened its stake in shares of Target Corporation (NYSE:TGT) by 18.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,450 shares of the retailer’s stock after selling 1,968 shares during the quarter. First Horizon Advisors Inc.’s holdings in Target were worth $834,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. lifted its holdings in 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 buying an additional 27,329 shares during the period. Precedent Wealth Partners LLC raised its holdings in shares of Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after acquiring an additional 2,869 shares in the last quarter. Correct Capital Wealth Management raised its holdings in shares of Target by 44.7% during the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after acquiring an additional 4,189 shares in the last quarter. PDT Partners LLC purchased a new stake in Target in the first quarter worth $4,623,000. Finally, Mattern Capital Management LLC boosted its holdings in Target by 7.6% in the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after acquiring an additional 5,573 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America restated an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a report on Friday, August 15th. 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. Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Barclays reaffirmed an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Finally, BTIG Research began coverage on Target in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.00.

Target Price Performance

Shares of NYSE TGT opened at $89.28 on Friday. The company has a 50 day simple moving average of $90.87 and a two-hundred day simple moving average of $96.36. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The company has a market capitalization of $40.57 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s dividend payout ratio is 53.15%.

About Target

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.