Grandfield & Dodd LLC Trims Stock Holdings in Target Corporation $TGT

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after acquiring an additional 3,059 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Target by 4.7% in the first quarter. Sigma Planning Corp now owns 6,337 shares of the retailer’s stock valued at $661,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Target by 5.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 12,815 shares of the retailer’s stock worth $1,337,000 after purchasing an additional 610 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Target by 39.3% during the first quarter. Wealthfront Advisers LLC now owns 79,370 shares of the retailer’s stock worth $8,283,000 after purchasing an additional 22,398 shares during the period. Finally, Bridgewater Advisors Inc. purchased a new position in Target in the 1st quarter valued at $212,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT opened at $90.66 on Friday. The company has a market capitalization 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 debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The company’s 50 day simple moving average is $90.60 and its 200 day simple moving average is $96.25.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current 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 given a dividend of $1.14 per share. 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. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s dividend payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. Wolfe Research assumed coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price for the company. Wedbush reiterated an “outperform” rating on shares of Target in a research report on Thursday, July 17th. JPMorgan Chase & Co. cut their target price on shares of Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $108.71.

Target Company 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.