Independence Bank of Kentucky Sells 780 Shares of Target Corporation $TGT

Independence Bank of Kentucky reduced its stake in Target Corporation (NYSE:TGT) by 6.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,092 shares of the retailer’s stock after selling 780 shares during the quarter. Independence Bank of Kentucky’s holdings in Target were worth $1,094,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Guardian Wealth Advisors LLC lifted its stake in Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock worth $422,000 after purchasing an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake 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 purchasing an additional 106 shares during the last quarter. Truvestments Capital LLC lifted its stake in Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after purchasing an additional 107 shares during the last quarter. Formidable Asset Management LLC lifted its stake in Target by 1.2% during the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock worth $1,012,000 after purchasing an additional 111 shares during the last quarter. Finally, Invst LLC lifted its stake in Target by 1.2% during the first quarter. Invst LLC now owns 10,373 shares of the retailer’s stock worth $1,083,000 after purchasing an additional 118 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE TGT opened at $88.04 on Monday. The company has a market capitalization of $40.01 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.53 and a beta of 1.16. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The stock has a fifty day simple moving average of $97.53 and a 200 day simple moving average of $97.97. 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 (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Bank of America restated an “underperform” rating and set a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Wedbush restated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Citigroup upped their price target on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Finally, Truist Financial upped their price target on shares of Target from $90.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Target presently has an average rating of “Hold” and an average price target of $110.48.

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.