Forsta AP Fonden Sells 3,900 Shares of Target Corporation $TGT

Forsta AP Fonden reduced its holdings in shares of Target Corporation (NYSE:TGT) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,000 shares of the retailer’s stock after selling 3,900 shares during the period. Forsta AP Fonden’s holdings in Target were worth $9,372,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGT. Raleigh Capital Management Inc. grew its holdings in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its stake in 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. Investment Research & Advisory Group Inc. purchased a new stake in Target during the second quarter valued at about $29,000. Global Assets Advisory LLC bought a new position in shares of Target during the second quarter valued at about $31,000. Finally, WPG Advisers LLC bought a new position in shares of Target during the first quarter valued at about $32,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. DA Davidson lowered their target price on Target from $115.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Truist Financial decreased their price target on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Citigroup boosted their price objective on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Guggenheim reissued a “buy” rating and set a $115.00 price objective on shares of Target in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.71.

Target Price Performance

TGT opened at $90.66 on Friday. 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 stock has a market capitalization of $41.20 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The stock’s 50 day moving average price is $90.60 and its 200-day moving average price is $96.25. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s 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.