National Pension Service Reduces Stock Position in Target Corporation $TGT

National Pension Service trimmed its holdings in Target Corporation (NYSE:TGT) by 53.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 790,863 shares of the retailer’s stock after selling 915,804 shares during the period. National Pension Service’s holdings in Target were worth $78,019,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. CWM LLC increased its holdings in Target by 13.8% in the first quarter. CWM LLC now owns 60,690 shares of the retailer’s stock valued at $6,334,000 after buying an additional 7,360 shares during the last quarter. MQS Management LLC acquired a new stake in Target during the first quarter valued at approximately $208,000. Sigma Planning Corp raised its stake in Target by 4.7% during the first quarter. Sigma Planning Corp now owns 6,337 shares of the retailer’s stock valued at $661,000 after buying an additional 285 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Target by 5.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,815 shares of the retailer’s stock worth $1,337,000 after buying an additional 610 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $91.92 on Thursday. The firm has a market capitalization of $41.77 billion, a PE ratio of 10.71, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $90.64 and a 200 day moving average price of $96.29. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period in the prior year, the business posted $2.57 EPS. 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. On average, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. Target’s payout ratio is 53.15%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TGT shares. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Truist Financial dropped their target price on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Piper Sandler restated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Royal Bank Of Canada boosted their price objective on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Bank of America reiterated an “underperform” rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $108.71.

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.