Target Corporation $TGT Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Target Corporation (NYSE:TGT) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 298,848 shares of the retailer’s stock after selling 2,394 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.07% of Target worth $29,481,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Easterly Investment Partners LLC lifted its holdings in Target by 15.6% during the 2nd quarter. Easterly Investment Partners LLC now owns 134,869 shares of the retailer’s stock worth $13,305,000 after buying an additional 18,177 shares in the last quarter. AssuredPartners Investment Advisors LLC lifted its holdings in Target by 19.2% during the 2nd quarter. AssuredPartners Investment Advisors LLC now owns 2,553 shares of the retailer’s stock worth $252,000 after buying an additional 412 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings in Target by 41.2% during the 2nd quarter. Applied Finance Capital Management LLC now owns 171,213 shares of the retailer’s stock worth $16,891,000 after buying an additional 49,943 shares in the last quarter. Sage Private Wealth Group LLC lifted its holdings in Target by 83.7% during the 2nd quarter. Sage Private Wealth Group LLC now owns 4,182 shares of the retailer’s stock worth $413,000 after buying an additional 1,906 shares in the last quarter. Finally, SilverOak Wealth Management LLC lifted its holdings in Target by 91.1% during the 2nd quarter. SilverOak Wealth Management LLC now owns 10,572 shares of the retailer’s stock worth $1,043,000 after buying an additional 5,040 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 0.8%

NYSE TGT opened at $90.79 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm’s fifty day moving average price is $93.07 and its 200 day moving average price is $96.42. The company has a market capitalization of $41.25 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 53.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Target in a report on Tuesday. They issued a “neutral” rating on the stock. Citigroup raised their price objective on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Loop Capital set a $95.00 price objective on shares of Target in a report on Thursday, July 17th. Finally, Bank of America restated an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a report on Friday, August 15th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.00.

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.