First Horizon Advisors Inc. Sells 1,968 Shares of Target Corporation $TGT

First Horizon Advisors Inc. reduced its position in Target Corporation (NYSE:TGT) by 18.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,450 shares of the retailer’s stock after selling 1,968 shares during the period. First Horizon Advisors Inc.’s holdings in Target were worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kozak & Associates Inc. raised its stake in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target in the 2nd quarter worth about $29,000. WPG Advisers LLC purchased a new position in Target in the 1st quarter worth about $32,000. Finally, Global Assets Advisory LLC purchased a new position in Target in the 2nd quarter worth about $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

NYSE TGT opened at $89.28 on Friday. The business’s fifty day moving average is $90.87 and its 200 day moving average is $96.36. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. 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 capitalization of $40.57 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

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. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company 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 is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays reiterated an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. UBS Group cut their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. BTIG Research started coverage on shares of Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. DA Davidson dropped their price target on Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Evercore ISI cut their price objective on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a report on Tuesday, October 14th. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.