Trek Financial LLC Sells 8,609 Shares of Target Corporation $TGT

Trek Financial LLC decreased its holdings in shares of Target Corporation (NYSE:TGT) by 79.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,233 shares of the retailer’s stock after selling 8,609 shares during the period. Trek Financial LLC’s holdings in Target were worth $200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. JNBA Financial Advisors raised its position in shares of Target by 3.0% during the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after buying an additional 96 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its position in shares of Target by 32.3% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Target by 0.6% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock valued at $1,738,000 after purchasing an additional 100 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in 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 buying an additional 102 shares during the period. Finally, Binnacle Investments Inc lifted its position in Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock worth $100,000 after buying an additional 104 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TGT. Royal Bank Of Canada cut their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Evercore ISI dropped their price target on shares of Target from $100.00 to $95.00 and set an “in-line” rating for the company in a research note on Tuesday, December 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 price target on shares of Target in a report on Friday, November 14th. Truist Financial raised their price objective on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 20th. Finally, Roth Mkm set a $88.00 target price on Target in a research report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $103.03.

Target Price Performance

Target stock opened at $104.10 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The stock has a market cap of $47.14 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 11.76 and a beta of 1.12. The firm has a 50-day moving average of $97.94 and a two-hundred day moving average of $96.28. Target Corporation has a 1 year low of $83.44 and a 1 year high of $145.08.

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

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.4%. Target’s dividend payout ratio is presently 55.34%.

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.