Target Corporation $TGT Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its holdings in Target Corporation by 9.2%, now owning approximately 1.53 million shares valued at $150.95 million.
• Target recently declared a quarterly dividend of $1.14, representing an annual yield of 5.0%, which is an increase from the previous dividend of $1.12.
• The company reported $2.05 EPS for the latest quarter, exceeding analyst expectations and setting FY 2025 guidance at 7.000-9.000 EPS.

US Bancorp DE reduced its position in Target Corporation (NYSE:TGT - Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,530,193 shares of the retailer's stock after selling 155,253 shares during the quarter. US Bancorp DE owned about 0.34% of Target worth $150,954,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Punch & Associates Investment Management Inc. lifted its holdings in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer's stock worth $8,786,000 after purchasing an additional 27,329 shares during the period. DSG Capital Advisors LLC lifted its holdings in shares of Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after purchasing an additional 21,726 shares during the period. Precedent Wealth Partners LLC lifted its holdings in shares of Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer's stock worth $1,303,000 after purchasing an additional 2,869 shares during the period. Correct Capital Wealth Management lifted its holdings in shares of Target by 44.7% during the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after purchasing an additional 4,189 shares during the period. Finally, PDT Partners LLC acquired a new stake in shares of Target during the first quarter worth $4,623,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 1.2%

Shares of NYSE:TGT opened at $90.35 on Thursday. The stock's 50-day moving average price is $94.99 and its two-hundred day moving average price is $97.22. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The firm has a market cap of $41.06 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 2.58 and a beta of 1.18.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the company earned $2.57 EPS. The firm's quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. 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 53.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group reduced their target price on Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Truist Financial reduced their target price on Target from $102.00 to $83.00 and set a "hold" rating for the company in a report on Thursday, October 2nd. Barclays reissued an "underweight" rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their target price on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $109.65.

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.