Tobam Cuts Position in Target Corporation $TGT

Tobam trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 94.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 355 shares of the retailer’s stock after selling 6,407 shares during the quarter. Tobam’s holdings in Target were worth $35,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JNBA Financial Advisors grew its stake in Target by 3.0% in the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after purchasing an additional 96 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC grew its position in Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after buying an additional 104 shares during the period. IFG Advisory LLC grew its position in Target by 1.4% during the second quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock valued at $729,000 after buying an additional 105 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after buying an additional 106 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $91.92 on Thursday. The stock has a market cap of $41.77 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a fifty day moving average of $90.64 and a 200-day moving average of $96.29.

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 business had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research began coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price on the stock. BTIG Research started coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating on the stock. UBS Group dropped their price objective on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Wedbush reissued an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Finally, Guggenheim restated a “buy” rating and issued a $115.00 target price on shares of Target in a research note on Monday, October 27th. Nine research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.71.

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.