Old Port Advisors Cuts Stake in Target Corporation $TGT

Old Port Advisors reduced its stake in Target Corporation (NYSE:TGT) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,050 shares of the retailer’s stock after selling 413 shares during the period. Old Port Advisors’ holdings in Target were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cove Private Wealth LLC purchased a new stake in shares of Target in the second quarter worth $205,000. Patton Fund Management Inc. purchased a new stake in shares of Target in the second quarter worth $225,000. ST Germain D J Co. Inc. grew its stake in shares of Target by 17.0% in the second quarter. ST Germain D J Co. Inc. now owns 6,676 shares of the retailer’s stock worth $659,000 after acquiring an additional 969 shares during the last quarter. Evergreen Private Wealth LLC grew its stake in shares of Target by 2,091.1% in the second quarter. Evergreen Private Wealth LLC now owns 30,850 shares of the retailer’s stock worth $3,043,000 after acquiring an additional 29,442 shares during the last quarter. Finally, LS Investment Advisors LLC grew its stake in shares of Target by 8.2% in the second quarter. LS Investment Advisors LLC now owns 18,290 shares of the retailer’s stock worth $1,804,000 after acquiring an additional 1,380 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Evercore ISI dropped their price objective on Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 23rd. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Royal Bank Of Canada increased their price objective on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price objective on shares of Target in a research report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $110.48.

Target Stock Up 1.0%

TGT stock opened at $88.04 on Friday. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50. The business’s 50-day moving average is $97.53 and its two-hundred day moving average is $98.02. 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 company has a market cap of $40.01 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.53 and a beta of 1.16.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS 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 firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter last year, the company earned $2.57 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is 53.15%.

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.