NBT Bank N A NY Trims Stake in Target Corporation $TGT

NBT Bank N A NY cut its position in Target Corporation (NYSE:TGT) by 4.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,165 shares of the retailer’s stock after selling 1,287 shares during the period. NBT Bank N A NY’s holdings in Target were worth $2,680,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Target by 101.3% in the fourth 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. Park Avenue Securities LLC lifted its holdings in shares of Target by 21.3% in the 1st quarter. Park Avenue Securities LLC now owns 16,201 shares of the retailer’s stock worth $1,691,000 after acquiring an additional 2,850 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Target in the 1st quarter worth about $4,154,000. Courier Capital LLC increased its stake in Target by 62.4% in the 1st quarter. Courier Capital LLC now owns 9,874 shares of the retailer’s stock worth $1,030,000 after buying an additional 3,794 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Target by 34.8% in the 1st quarter. Farther Finance Advisors LLC now owns 12,389 shares of the retailer’s stock worth $1,294,000 after buying an additional 3,195 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TGT. Barclays reaffirmed an “underweight” rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. UBS Group dropped their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Finally, Citigroup lifted their target price on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $109.65.

Target Trading Up 0.4%

Shares of TGT stock opened at $89.36 on Wednesday. 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 fifty-two week low of $86.30 and a fifty-two week high of $161.50. The stock has a market capitalization of $40.60 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.57 and a beta of 1.18. The stock has a 50-day simple moving average of $95.25 and a 200 day simple moving average of $97.27.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (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 during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the business earned $2.57 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts expect 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 given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

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.