Target Corporation $TGT Stock Holdings Lowered by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in Target Corporation (NYSE:TGT) by 5.5% in the first quarter, now holding approximately $30.69 million worth of shares.
• Target recently reported quarterly earnings of $2.05 per share, slightly surpassing expectations, and their revenue for the quarter was $24.99 billion, reflecting a year-over-year decline of 0.9%.
• The firm announced a quarterly dividend of $1.12 per share, which represents an annualized yield of 4.5%, with a payout ratio of 53.15%.

Comerica Bank trimmed its stake in Target Corporation (NYSE:TGT - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 294,033 shares of the retailer's stock after selling 17,111 shares during the quarter. Comerica Bank owned about 0.06% of Target worth $30,685,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TGT. DSG Capital Advisors LLC raised its position in shares of Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after buying an additional 21,726 shares during the period. Viking Fund Management LLC grew its holdings in shares of Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after purchasing an additional 10,000 shares during the period. Correct Capital Wealth Management grew its holdings in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after purchasing an additional 4,189 shares during the period. Chapin Davis Inc. increased its position in Target by 64.7% during the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after purchasing an additional 3,342 shares in the last quarter. Finally, CMH Wealth Management LLC raised its holdings in Target by 31.5% in the first quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock valued at $6,410,000 after buying an additional 14,719 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Zacks Research upgraded Target from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Evercore ISI reduced their price objective on Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, August 21st. Finally, Morgan Stanley lowered their target price on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.74.

Target Stock Performance

NYSE:TGT traded down $1.10 during trading hours on Thursday, reaching $96.86. 5,140,114 shares of the stock were exchanged, compared to its average volume of 7,131,999. The stock has a market capitalization of $44.01 billion, a P/E ratio of 11.29, a P/E/G ratio of 2.77 and a beta of 1.22. The firm has a 50 day simple moving average of $102.13 and a 200-day simple moving average of $103.09. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 52 week low of $87.35 and a 52 week high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is presently 53.15%.

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.