Clear Harbor Asset Management LLC Sells 642 Shares of Target Corporation $TGT

Clear Harbor Asset Management LLC lowered its position in shares of Target Corporation (NYSE:TGT) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,379 shares of the retailer’s stock after selling 642 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Target were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. raised its position in shares of Target by 2.7% during the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock worth $514,000 after acquiring an additional 99 shares during the last quarter. Guardian Wealth Advisors LLC increased its holdings in Target by 2.6% in the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Target by 9.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after purchasing an additional 106 shares during the last quarter. Truvestments Capital LLC increased its holdings in Target by 21.4% in the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after purchasing an additional 107 shares during the last quarter. Finally, Formidable Asset Management LLC increased its holdings in Target by 1.2% in the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock valued at $1,012,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $86.66 on Tuesday. The stock has a 50 day moving average price of $98.73 and a 200 day moving average price of $98.59. Target Corporation has a 52 week low of $86.30 and a 52 week high of $161.50. 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 market capitalization of $39.38 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16.

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

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent analyst reports. Loop Capital set a $95.00 price objective on Target in a report on Thursday, July 17th. Truist Financial upped their price objective on Target from $90.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. UBS Group dropped their price objective on Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Guggenheim restated a “buy” rating and issued a $115.00 price target on shares of Target in a report on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus price target of $110.52.

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.