Federation des caisses Desjardins du Quebec Sells 7,295 Shares of Target Corporation $TGT

Key Points

• Federation des caisses Desjardins du Quebec has reduced its position in Target Corporation by 20.9%, now holding 27,687 shares worth approximately $2.89 million after selling 7,295 shares.
• Multiple institutional investors have increased their stakes in Target, with several reporting significant percentage boosts in their holdings, such as Correct Capital Wealth Management which increased its position by 44.7%.
• Target's recent quarterly earnings exceeded expectations, reporting $2.05 earnings per share against a consensus estimate of $2.04, despite a 0.9% year-over-year decline in revenue.

Federation des caisses Desjardins du Quebec trimmed its holdings in Target Corporation (NYSE:TGT - Free Report) by 20.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,687 shares of the retailer's stock after selling 7,295 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Target were worth $2,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Perbak Capital Partners LLP bought a new position in Target in the 1st quarter worth approximately $329,000. EP Wealth Advisors LLC boosted its stake in Target by 3.1% in the 1st quarter. EP Wealth Advisors LLC now owns 16,826 shares of the retailer's stock worth $1,756,000 after purchasing an additional 501 shares during the period. PDT Partners LLC bought a new position in Target in the 1st quarter worth approximately $4,623,000. First Manhattan CO. LLC. raised its holdings in shares of Target by 2,885.2% during the 1st quarter. First Manhattan CO. LLC. now owns 68,541 shares of the retailer's stock worth $7,153,000 after acquiring an additional 66,245 shares in the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Target during the 1st quarter worth approximately $38,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 0.2%

Target stock traded down $0.18 during mid-day trading on Wednesday, hitting $90.73. The company's stock had a trading volume of 3,496,380 shares, compared to its average volume of 7,136,609. The company has a 50 day moving average of $101.34 and a 200-day moving average of $100.71. The stock has a market cap of $41.23 billion, a PE ratio of 10.58, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a one year low of $87.35 and a one year high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced 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. The company had revenue of $24.99 billion for 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%.Target's quarterly revenue was down .9% on a year-over-year basis. During the same quarter 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, research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

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

Analyst Upgrades and Downgrades

TGT has been the topic of several recent research reports. Wall Street Zen raised Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. BMO Capital Markets decreased their price target on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. DA Davidson decreased their price target on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Truist Financial increased their price target on Target from $90.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Target has a consensus rating of "Hold" and a consensus price target of $113.74.

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.