Stock Yards Bank & Trust Co. Reduces Holdings in Target Corporation $TGT

Key Points

• Stock Yards Bank & Trust Co. reduced its holdings in Target Corporation by 14.7%, now owning 16,962 shares valued at approximately $1.67 million.
• Target recently announced a quarterly dividend of $1.14 per share, increasing from the previous dividend of $1.12, with a dividend yield of 5.1%.
• Target reported earnings of $2.05 per share for the last quarter, slightly exceeding estimates, but its revenue was down 0.9% year-over-year.

Stock Yards Bank & Trust Co. decreased its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 14.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,962 shares of the retailer's stock after selling 2,913 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Target were worth $1,673,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TGT. Kozak & Associates Inc. lifted its holdings in shares of Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after purchasing an additional 102 shares during the period. Investment Research & Advisory Group Inc. acquired a new stake in shares of Target during the second quarter worth about $29,000. WPG Advisers LLC acquired a new stake in shares of Target during the first quarter worth about $32,000. Finally, 1248 Management LLC acquired a new stake in shares of Target during the first quarter worth about $38,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Trading Down 0.5%

Shares of TGT stock opened at $89.03 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The company has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.57 and a beta of 1.18. The stock has a 50 day simple moving average of $95.89 and a 200-day simple moving average of $97.48. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its 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 return on equity of 23.43% and a net margin of 3.72%.The business's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio is currently 53.15%.

Analyst Ratings Changes

TGT has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Loop Capital set a $95.00 price target on Target in a report on Thursday, July 17th. Wall Street Zen raised Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Citigroup boosted their price target on Target from $94.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Finally, Bank of America reissued an "underperform" rating and issued a $93.00 price target (down from $105.00) on shares of Target in a report on Friday, August 15th. Nine analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of "Hold" and an average price target of $109.71.

Target 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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