Tobam Sells 6,407 Shares of Target Corporation $TGT

Tobam decreased its holdings in Target Corporation (NYSE:TGT) by 94.8% in the second quarter, Holdings Channel.com reports. The firm owned 355 shares of the retailer’s stock after selling 6,407 shares during the period. Tobam’s holdings in Target were worth $35,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TGT. UBS Group decreased their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Bank of America restated an “underperform” rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Cowen restated a “hold” rating on shares of Target in a report on Monday. Finally, Wolfe Research started 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. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.71.

Target Price Performance

TGT opened at $91.92 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42. The stock has a market capitalization of $41.77 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.74 and a beta of 1.19. The company’s 50-day simple moving average is $90.64 and its two-hundred day simple moving average is $96.29.

Target (NYSE:TGT) last announced its earnings results 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 analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts predict 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 given a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. Target’s payout ratio is 53.15%.

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.