Northeast Investment Management Sells 2,585 Shares of Target Corporation $TGT

Northeast Investment Management lowered its stake in Target Corporation (NYSE:TGT) by 48.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,714 shares of the retailer’s stock after selling 2,585 shares during the quarter. Northeast Investment Management’s holdings in Target were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TGT. Raleigh Capital Management Inc. boosted its stake in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the period. Kozak & Associates Inc. boosted its stake in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the period. Investment Research & Advisory Group Inc. bought a new position in Target in the 2nd quarter worth about $29,000. Global Assets Advisory LLC bought a new position in Target in the 2nd quarter worth about $31,000. Finally, WPG Advisers LLC bought a new position in Target in the 1st quarter worth about $32,000. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TGT shares. Jefferies Financial Group cut their target price on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. DA Davidson lowered their price target on Target from $115.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.00.

Target Stock Performance

Shares of NYSE TGT opened at $90.79 on Monday. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 2.64 and a beta of 1.18. 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 1-year low of $85.36 and a 1-year high of $158.42. The stock’s 50-day moving average is $93.07 and its 200 day moving average is $96.37.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue for the quarter was down .9% compared to the same quarter last year. 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 anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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