Grandfield & Dodd LLC Cuts Stake in Target Corporation $TGT

Grandfield & Dodd LLC lessened its holdings in shares of Target Corporation (NYSE:TGT) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,342 shares of the retailer’s stock after selling 704 shares during the period. Grandfield & Dodd LLC’s holdings in Target were worth $428,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Clearstead Trust LLC increased its stake in Target by 55.1% during the 2nd quarter. Clearstead Trust LLC now owns 1,117 shares of the retailer’s stock valued at $110,000 after purchasing an additional 397 shares in the last quarter. Capital Investment Counsel Inc lifted its holdings in Target by 9.9% in the second quarter. Capital Investment Counsel Inc now owns 20,363 shares of the retailer’s stock valued at $2,009,000 after acquiring an additional 1,829 shares during the period. Candriam S.C.A. boosted its position in Target by 509.0% in the 2nd quarter. Candriam S.C.A. now owns 254,965 shares of the retailer’s stock worth $25,153,000 after purchasing an additional 213,097 shares in the last quarter. Impax Asset Management Group plc acquired a new stake in shares of Target during the 2nd quarter worth approximately $7,033,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Target by 2.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 69,117 shares of the retailer’s stock worth $6,818,000 after purchasing an additional 1,961 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial dropped their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. JPMorgan Chase & Co. reduced their target price on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Zacks Research cut shares of Target from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Finally, Wolfe Research assumed coverage on shares of Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $108.71.

Target Price Performance

TGT opened at $90.66 on Friday. The firm has a market cap of $41.20 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 2.74 and a beta of 1.19. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. 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 12-month low of $85.36 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, November 12th. Target’s payout ratio is currently 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.