Greenleaf Trust Lowers Holdings in Target Corporation $TGT

Key Points

• Greenleaf Trust reduced its holdings in Target Corporation by 26.2%, owning 12,712 shares worth $1.25 million after selling 4,504 shares in the second quarter.
• Target reported a $2.05 EPS for the quarter, slightly exceeding estimates, with revenue of $24.99 billion, down 0.9% year-over-year.
• Target declared a quarterly dividend increase to $1.14 per share, up from $1.12, with a dividend yield of 5.1%.

Greenleaf Trust trimmed its position in Target Corporation (NYSE:TGT - Free Report) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,712 shares of the retailer's stock after selling 4,504 shares during the quarter. Greenleaf Trust's holdings in Target were worth $1,254,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raleigh Capital Management Inc. lifted its stake in Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after acquiring an additional 102 shares during the period. Kozak & Associates Inc. lifted its stake in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after acquiring an additional 253 shares during the period. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target in the 2nd quarter worth approximately $29,000. WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $32,000. Finally, 1248 Management LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the subject of a number of analyst reports. Jefferies Financial Group lowered their target price on Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Zacks Research upgraded Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Truist Financial upped their price objective on Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Barclays restated an "underweight" rating and set a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Finally, Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $110.48.

Target Trading Down 0.6%

Target stock opened at $89.20 on Thursday. The stock has a 50-day moving average of $96.56 and a two-hundred day moving average of $97.74. 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 one year low of $86.30 and a one year high of $161.50. The stock has a market cap of $40.53 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The firm 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%. Target's revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's dividend payout ratio is 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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