Target Corporation $TGT Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. reduced its stake in Target Corporation by 16.5% during the second quarter, now holding 22,127 shares valued at approximately $2.18 million.
• Target's recent quarterly earnings report revealed an EPS of $2.05, beating analyst expectations, but reflected a 0.9% decline in revenue year-over-year.
• The company announced an increase in its quarterly dividend from $1.12 to $1.14, resulting in a 5.1% dividend yield for investors.

Equitable Trust Co. decreased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,127 shares of the retailer's stock after selling 4,377 shares during the period. Equitable Trust Co.'s holdings in Target were worth $2,183,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. boosted its position in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after purchasing an additional 102 shares in the last quarter. Kozak & Associates Inc. boosted its position in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new position in shares of Target during the 2nd quarter valued at about $29,000. Global Assets Advisory LLC bought a new position in shares of Target during the 2nd quarter valued at about $31,000. Finally, WPG Advisers LLC bought a new position in shares of Target during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Performance

Shares of TGT opened at $88.94 on Wednesday. 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 stock has a market cap of $40.41 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.54 and a beta of 1.18. The company has a 50-day moving average of $93.96 and a two-hundred day moving average of $96.65. Target Corporation has a one year low of $85.36 and a one year high of $161.50.

Target (NYSE:TGT - Get Free Report) last posted 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 business 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%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $2.57 earnings per share. 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 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. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. Target's dividend payout ratio is 53.15%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a "hold" rating for the company in a research report on Thursday, October 2nd. Royal Bank Of Canada raised their price objective on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Bank of America restated an "underperform" rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Jefferies Financial Group decreased their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, UBS Group decreased their target price on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.00.

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.

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