Generali Asset Management SPA SGR Sells 7,760 Shares of Target Corporation $TGT

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Target Corporation by 12.9%, selling 7,760 shares and holding a total of 52,351 shares worth $5.16 million.
• Target recently announced a quarterly dividend of $1.14, an increase from the previous $1.12, with a yield of 5.0%.
• Target Corporation has a consensus price target of $109.00, with an average rating of "Hold" from analysts and a recent EPS of $2.05 surpassing estimates.

Generali Asset Management SPA SGR trimmed its position in Target Corporation (NYSE:TGT - Free Report) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,351 shares of the retailer's stock after selling 7,760 shares during the quarter. Generali Asset Management SPA SGR's holdings in Target were worth $5,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Granite Group Advisors LLC increased its stake in Target by 145.7% in the second quarter. Granite Group Advisors LLC now owns 23,288 shares of the retailer's stock valued at $2,297,000 after acquiring an additional 13,811 shares during the last quarter. Edmp Inc. bought a new position in Target in the second quarter valued at approximately $251,000. RFG Advisory LLC increased its stake in Target by 79.7% in the second quarter. RFG Advisory LLC now owns 7,784 shares of the retailer's stock valued at $768,000 after acquiring an additional 3,453 shares during the last quarter. Community Bank N.A. increased its stake in Target by 11.4% in the second quarter. Community Bank N.A. now owns 24,012 shares of the retailer's stock valued at $2,369,000 after acquiring an additional 2,461 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. bought a new position in Target in the second quarter valued at approximately $239,000. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGT has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Target in a research note on Thursday, September 18th. They issued an "underperform" rating and a $80.00 price objective on the stock. Evercore ISI decreased their price objective on shares of Target from $103.00 to $100.00 and set an "in-line" rating on the stock in a research note on Tuesday. UBS Group cut their target price on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Zacks Research upgraded shares of Target from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Target in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $109.00.

Target Price Performance

Shares of NYSE:TGT opened at $90.96 on Thursday. The firm has a market cap of $41.33 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The firm's fifty day moving average is $93.67 and its 200-day moving average is $96.61. 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 52 week low of $85.36 and a 52 week high of $160.79.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS 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 net margin of 3.72% and a return on equity of 23.43%. Target's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. Target's dividend payout ratio (DPR) 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.

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