Webster Bank N. A. Cuts Stock Holdings in Target Corporation $TGT

Key Points

• Webster Bank N.A. has cut its stake in Target Corporation by 63.7%, reducing its holdings to 2,185 shares after selling 3,840 shares in the 2nd quarter, valued at $216,000.
• Target's recent earnings report showed an EPS of $2.05, slightly beating expectations, while revenues declined 0.9% year-over-year, totaling $24.99 billion.
• Wall Street analysts have mixed ratings on Target, with a consensus of "Hold" and an average price target of $113.74, while Guggenheim issued a "buy" rating with a price objective of $115.00.

Webster Bank N. A. decreased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 63.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,185 shares of the retailer's stock after selling 3,840 shares during the period. Webster Bank N. A.'s holdings in Target were worth $216,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TGT. Bernard Wealth Management Corp. purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. WPG Advisers LLC purchased a new position in shares of Target during the first quarter valued at approximately $32,000. 1248 Management LLC purchased a new position in shares of Target during the first quarter valued at approximately $38,000. Heck Capital Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $40,000. Finally, Atwood & Palmer Inc. boosted its position in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Price Performance

Shares of NYSE TGT opened at $88.55 on Tuesday. The stock has a market cap of $40.24 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.60 and a beta of 1.16. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $161.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a fifty day moving average of $100.25 and a 200-day moving average of $99.57.

Target (NYSE:TGT - Get Free Report) last posted its 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. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The firm's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Guggenheim reissued a "buy" rating and issued a $115.00 price objective on shares of Target in a research report on Thursday, August 21st. UBS Group lowered their target price on Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. DA Davidson lowered their target price on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Bank of America reiterated an "underperform" rating and set a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.

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