Target Corporation $TGT Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 567,897 shares of the retailer’s stock after selling 16,000 shares during the period. New York State Common Retirement Fund’s holdings in Target were worth $56,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JNBA Financial Advisors boosted its position in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after purchasing an additional 96 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in Target by 32.3% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after buying an additional 98 shares during the period. Raleigh Capital Management Inc. increased its position in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. IFG Advisory LLC increased its holdings in shares of Target by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock worth $729,000 after buying an additional 105 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a report on Monday, October 27th. Evercore ISI restated a “positive” rating and issued a $100.00 price target on shares of Target in a research note on Thursday, November 20th. BMO Capital Markets reduced their target price on Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday, November 20th. Sanford C. Bernstein lowered their price objective on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Finally, TD Cowen dropped their target price on Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.00.

Target Trading Up 1.2%

Shares of NYSE TGT opened at $90.85 on Friday. The business has a 50-day moving average price of $90.07 and a two-hundred day moving average price of $95.57. Target Corporation has a one year low of $83.44 and a one year high of $145.08. The firm has a market capitalization of $41.28 billion, a PE ratio of 10.59, a PEG ratio of 2.74 and a beta of 1.19. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. 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 Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. Target’s payout ratio is 55.34%.

About Target

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.