Perpetual Ltd Sells 3,715 Shares of Target Corporation $TGT

Key Points

• Perpetual Ltd reduced its stake in Target Corporation by 37.6% during the 2nd quarter, selling 3,715 shares and owning a total of 6,174 shares worth approximately $609,000.
• Target reported a quarterly earnings per share (EPS) of $2.05, exceeding analysts' expectations of $2.04, while experiencing a .9% year-over-year decline in revenue.
• The company announced an increase in its quarterly dividend to $1.14 per share, reflecting a 5.2% yield and a payout ratio of 53.15%.

Perpetual Ltd trimmed its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 37.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,174 shares of the retailer's stock after selling 3,715 shares during the period. Perpetual Ltd's holdings in Target were worth $609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC bought a new position in shares of Target during the 2nd quarter worth about $595,839,000. IFM Investors Pty Ltd lifted its holdings in shares of Target by 3.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 90,903 shares of the retailer's stock worth $8,968,000 after acquiring an additional 3,044 shares during the period. Grove Bank & Trust lifted its holdings in shares of Target by 906.9% during the 2nd quarter. Grove Bank & Trust now owns 8,005 shares of the retailer's stock worth $790,000 after acquiring an additional 7,210 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Target during the 2nd quarter worth about $141,000. Finally, Stolper Co lifted its holdings in shares of Target by 9.4% during the 2nd quarter. Stolper Co now owns 14,651 shares of the retailer's stock worth $1,445,000 after acquiring an additional 1,261 shares during the period. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TGT shares. Barclays reissued an "underweight" rating and set a $91.00 price target on shares of Target in a report on Monday, July 21st. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Bank of America reissued an "underperform" rating and set a $93.00 price target (down from $105.00) on shares of Target in a report on Friday, August 15th. Telsey Advisory Group reissued a "market perform" rating and set a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Guggenheim reissued a "buy" rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $112.69.

Target Trading Down 1.7%

Shares of NYSE:TGT traded down $1.47 during trading on Monday, hitting $86.66. 12,431,248 shares of the company's stock were exchanged, compared to its average volume of 7,455,542. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The firm has a 50-day moving average price of $99.10 and a two-hundred day moving average price of $98.78. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a market cap of $39.38 billion, a P/E ratio of 10.10, a PEG ratio of 2.54 and a beta of 1.16.

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 the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. This is a boost from Target's previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target's dividend payout ratio is currently 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.