Teacher Retirement System of Texas Trims Stock Holdings in Target Corporation $TGT

Teacher Retirement System of Texas lowered its holdings in shares of Target Corporation (NYSE:TGT) by 35.9% in the third quarter, Holdings Channel.com reports. The fund owned 98,803 shares of the retailer’s stock after selling 55,350 shares during the quarter. Teacher Retirement System of Texas’ holdings in Target were worth $8,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WFA of San Diego LLC purchased a new stake in shares of Target during the second quarter valued at $25,000. Raleigh Capital Management Inc. increased its stake in Target by 63.4% in the 2nd 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. Heartwood Wealth Advisors LLC bought a new stake in Target during the 3rd quarter valued at about $27,000. Investment Research & Advisory Group Inc. purchased a new stake in Target in the 2nd quarter valued at about $29,000. Finally, Global Assets Advisory LLC bought a new position in Target in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT opened at $108.04 on Monday. Target Corporation has a twelve month low of $83.44 and a twelve month high of $145.08. The company has a 50 day moving average of $97.63 and a two-hundred day moving average of $96.29. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The company has a market cap of $48.92 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 11.76 and a beta of 1.12.

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

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio is presently 55.34%.

Analyst Ratings Changes

A number of brokerages have recently commented on TGT. TD Cowen reduced their target price on shares of Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 20th. BTIG Research started coverage on Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of Target in a report on Thursday, December 18th. Argus decreased their target price on Target from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Finally, Guggenheim reissued a “buy” rating and set a $115.00 price target on shares of Target in a research report on Monday, October 27th. Ten analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average price target of $103.03.

About Target

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.