Target Corporation $TGT Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has reduced its holdings in Target Corporation by 39.4%, now owning approximately 1.35 million shares worth $141.1 million.
• Target's recent quarterly earnings report revealed an EPS of $2.05, exceeding estimates of $2.04, while revenue declined 0.9% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, which represents an annual yield of 4.5%.

Price T Rowe Associates Inc. MD reduced its position in shares of Target Corporation (NYSE:TGT - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,352,305 shares of the retailer's stock after selling 880,471 shares during the period. Price T Rowe Associates Inc. MD owned 0.30% of Target worth $141,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in Target in the 4th quarter valued at $29,000. Heck Capital Advisors LLC purchased a new stake in Target during the 4th quarter valued at about $40,000. Atwood & Palmer Inc. lifted its stake in Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares in the last quarter. Abound Financial LLC purchased a new position in Target in the 1st quarter worth approximately $43,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Target during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of Target in a report on Thursday, August 21st. Loop Capital set a $95.00 price target on Target in a report on Thursday, July 17th. Barclays reissued an "underweight" rating and set a $91.00 price target on shares of Target in a research report on Monday, July 21st. Evercore ISI cut their price objective 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. Finally, Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $97.00 to $82.00 in a report on Monday, May 12th. Ten equities research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $113.74.

Target Stock Performance

NYSE:TGT traded down $0.95 during trading hours on Friday, reaching $95.86. 3,231,251 shares of the company's stock were exchanged, compared to its average volume of 7,107,347. 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 1-year low of $87.35 and a 1-year high of $161.50. The company has a 50-day moving average of $102.16 and a 200 day moving average of $102.86. The firm has a market capitalization of $43.56 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.83 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted 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. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the business earned $2.57 EPS. The firm's revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 53.15%.

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.