Target Corporation $TGT Stake Lowered by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its stake in shares of Target Corporation (NYSE:TGT) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,514 shares of the retailer’s stock after selling 7,305 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Target were worth $8,089,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TGT. DSG Capital Advisors LLC grew its holdings in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after buying an additional 21,726 shares in the last quarter. Viking Fund Management LLC lifted its position in shares of Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock valued at $6,262,000 after acquiring an additional 10,000 shares during the last quarter. Correct Capital Wealth Management lifted its position in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after acquiring an additional 4,189 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Target in the first quarter valued at $4,623,000. Finally, Chapin Davis Inc. lifted its holdings in shares of Target by 64.7% in the first quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer’s stock valued at $888,000 after purchasing an additional 3,342 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Up 0.5%

Shares of NYSE:TGT opened at $93.14 on Monday. The company’s 50-day moving average price is $101.75 and its two-hundred day moving average price is $101.00. 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 one year low of $87.35 and a one year high of $161.50. The stock has a market capitalization of $42.32 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16.

Target (NYSE:TGT) last issued 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. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the previous year, the firm posted $2.57 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Target’s dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Citigroup raised their price target on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Jefferies Financial Group decreased their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Finally, Mizuho decreased their price objective on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $113.74.

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.