KBC Group NV Has $34.12 Million Stock Position in Target Corporation $TGT

KBC Group NV cut its position in shares of Target Corporation (NYSE:TGT) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,900 shares of the retailer’s stock after selling 3,924 shares during the period. KBC Group NV owned 0.08% of Target worth $34,123,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TGT. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Target by 23.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 505,153 shares of the retailer’s stock valued at $49,833,000 after acquiring an additional 95,607 shares during the last quarter. Nan Fung Trinity HK Ltd. raised its holdings in shares of Target by 50.6% during the 2nd quarter. Nan Fung Trinity HK Ltd. now owns 64,000 shares of the retailer’s stock valued at $6,314,000 after purchasing an additional 21,500 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Target by 21.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 85,876 shares of the retailer’s stock valued at $8,472,000 after purchasing an additional 15,259 shares during the last quarter. IMA Advisory Services Inc. boosted its holdings in Target by 5.4% in the second quarter. IMA Advisory Services Inc. now owns 14,766 shares of the retailer’s stock worth $1,457,000 after purchasing an additional 760 shares in the last quarter. Finally, Verus Capital Partners LLC increased its position in Target by 15.0% during the second quarter. Verus Capital Partners LLC now owns 7,825 shares of the retailer’s stock worth $772,000 after buying an additional 1,021 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of a number of analyst reports. Zacks Research lowered Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Bank of America reiterated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Evercore ISI reduced their price objective on shares of Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research note on Tuesday, October 14th. Citigroup raised their target price on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, Wedbush reiterated an “outperform” rating on shares of Target in a report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $108.71.

Target Price Performance

Shares of TGT stock opened at $91.92 on Thursday. The stock’s fifty day simple moving average is $90.64 and its 200 day simple moving average is $96.29. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The firm has a market cap of $41.77 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.72% and a return on equity of 23.43%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors 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%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. 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.