Oarsman Capital Inc. Sells 12,171 Shares of Target Corporation $TGT

Key Points

• Oarsman Capital Inc. has significantly reduced its stake in Target Corporation by 85.7%, selling 12,171 shares to own only 2,031 shares valued at $212,000.
• Target recently reported earnings of $2.05 per share for the last quarter, surpassing analysts' expectations, though revenue was down 0.9% year-over-year.
• The company has announced a quarterly dividend of $1.12, yielding 4.6%, with a payout ratio of 53.15% and the dividend to be paid on September 1st.

Oarsman Capital Inc. lessened its stake in Target Corporation (NYSE:TGT - Free Report) by 85.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,031 shares of the retailer's stock after selling 12,171 shares during the quarter. Oarsman Capital Inc.'s holdings in Target were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bontempo Ohly Capital Mgmt LLC grew its stake in Target by 0.3% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock valued at $3,875,000 after buying an additional 85 shares in the last quarter. Ancora Advisors LLC grew its stake in Target by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock valued at $1,402,000 after buying an additional 92 shares in the last quarter. Centaurus Financial Inc. grew its stake in Target by 2.7% in the 4th quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer's stock valued at $514,000 after buying an additional 99 shares in the last quarter. Guardian Wealth Advisors LLC grew its stake in Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after buying an additional 104 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer's stock valued at $126,000 after buying an additional 106 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE TGT traded down $3.64 during mid-day trading on Tuesday, reaching $92.34. 10,086,634 shares of the company were exchanged, compared to its average volume of 7,136,333. Target Corporation has a 52 week low of $87.35 and a 52 week high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $41.96 billion, a PE ratio of 10.76, a PEG ratio of 2.77 and a beta of 1.16. The company's 50 day moving average price is $102.16 and its 200 day moving average price is $102.03.

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

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.9%. Target's payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TGT. Morgan Stanley reduced their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Evercore ISI reduced their price target on shares of Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, August 21st. DA Davidson reduced their price target on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. BMO Capital Markets reduced their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Finally, Truist Financial boosted their price target on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Ten analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Target currently has an average rating of "Hold" and a consensus target price of $113.74.

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.