OVERSEA CHINESE BANKING Corp Ltd Reduces Position in Target Corporation $TGT

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Target Corporation (NYSE:TGT) by 49.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,909 shares of the retailer’s stock after selling 11,495 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Target were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TGT. WFA of San Diego LLC acquired a new stake in Target during the 2nd quarter worth $25,000. Raleigh Capital Management Inc. increased its stake in Target by 63.4% in the second 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 period. Kozak & Associates Inc. raised its holdings in shares of Target by 2,530.0% in 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 last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of Target during the third quarter worth about $27,000. Finally, Investment Research & Advisory Group Inc. acquired a new stake in shares of Target during the second quarter worth about $29,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Up 1.3%

Shares of TGT stock opened at $111.21 on Friday. The business’s fifty day moving average price is $95.51 and its 200 day moving average price is $96.13. The firm has a market capitalization of $50.36 billion, a PE ratio of 13.50, a P/E/G ratio of 11.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TGT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 target price on shares of Target in a report on Thursday, December 18th. Sanford C. Bernstein cut their price target on Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of Target in a report on Thursday, November 20th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $81.00 price objective on shares of Target in a research report on Tuesday, December 30th. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $103.67.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.