Northeast Investment Management Decreases Stake in Target Corporation $TGT

Northeast Investment Management reduced its stake in Target Corporation (NYSE:TGT) by 48.8% during the second quarter, Holdings Channel.com reports. The firm owned 2,714 shares of the retailer’s stock after selling 2,585 shares during the period. Northeast Investment Management’s holdings in Target were worth $268,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TGT. Brighton Jones LLC increased its stake in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares during the period. Blue Trust Inc. increased its stake in Target by 3.1% in the 1st quarter. Blue Trust Inc. now owns 5,136 shares of the retailer’s stock worth $536,000 after purchasing an additional 153 shares during the period. PFG Investments LLC increased its stake in Target by 19.7% in the 1st quarter. PFG Investments LLC now owns 12,558 shares of the retailer’s stock worth $1,311,000 after purchasing an additional 2,067 shares during the period. Praxis Investment Management Inc. increased its stake in Target by 16.5% in the 1st quarter. Praxis Investment Management Inc. now owns 8,950 shares of the retailer’s stock worth $934,000 after purchasing an additional 1,270 shares during the period. Finally, Intact Investment Management Inc. increased its stake in Target by 101.1% in the 1st quarter. Intact Investment Management Inc. now owns 36,598 shares of the retailer’s stock worth $3,819,000 after purchasing an additional 18,400 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.8%

NYSE TGT opened at $90.79 on Monday. 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 Corporation has a twelve month low of $85.36 and a twelve month high of $158.42. The firm has a market capitalization of $41.25 billion, a PE ratio of 10.58, a P/E/G ratio of 2.64 and a beta of 1.18. The stock’s 50 day moving average is $93.07 and its 200 day moving average is $96.37.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 analyst estimates of $24.84 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. 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 5.0%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TGT. Jefferies Financial Group cut their price objective on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Wedbush reiterated an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Truist Financial cut their price objective on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. Wolfe Research began coverage on Target in a research report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $109.00.

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.