Target Corporation $TGT Stock Holdings Trimmed by American National Bank & Trust

Key Points

• American National Bank & Trust has significantly reduced its holdings in Target Corporation by 77.7%, leaving it with 4,052 shares valued at $400,000.
• Target announced a quarterly dividend of $1.14 per share, reflecting an annualized yield of 5.2%, demonstrating a positive increase from its previous dividend of $1.12.
• Despite reporting earnings of $2.05 per share, Target's revenue decreased by 0.9% compared to the same quarter last year, indicating potential challenges ahead for the retailer.

American National Bank & Trust reduced its position in Target Corporation (NYSE:TGT - Free Report) by 77.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,052 shares of the retailer's stock after selling 14,159 shares during the quarter. American National Bank & Trust's holdings in Target were worth $400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centaurus Financial Inc. increased its holdings in Target by 2.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer's stock valued at $514,000 after buying an additional 99 shares during the last quarter. Guardian Wealth Advisors LLC grew its holdings in shares of Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after purchasing an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer's stock valued at $126,000 after purchasing an additional 106 shares during the last quarter. Truvestments Capital LLC grew its holdings in shares of Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer's stock valued at $63,000 after purchasing an additional 107 shares during the last quarter. Finally, Formidable Asset Management LLC grew its holdings in shares of Target by 1.2% during the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer's stock valued at $1,012,000 after purchasing an additional 111 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TGT. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Evercore ISI lowered their target price on Target from $106.00 to $105.00 and set an "in-line" rating for the company in a report on Tuesday. Bank of America reaffirmed an "underperform" rating and set a $93.00 target price (down from $105.00) on shares of Target in a report on Friday, August 15th. Barclays reissued an "underweight" rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Finally, UBS Group decreased their price objective on Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of "Hold" and an average target price of $110.48.

Target Stock Performance

TGT opened at $88.04 on Friday. The company has a market capitalization of $40.01 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The business has a 50 day moving average price of $97.53 and a two-hundred day moving average price of $98.08.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The firm 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 firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. This is a positive change from Target's previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target's payout ratio is currently 53.15%.

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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