Citizens Financial Group Inc. RI Sells 142,566 Shares of Target Corporation $TGT

Citizens Financial Group Inc. RI lessened its stake in shares of Target Corporation (NYSE:TGT) by 89.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,021 shares of the retailer’s stock after selling 142,566 shares during the period. Citizens Financial Group Inc. RI’s holdings in Target were worth $1,679,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TGT. Punch & Associates Investment Management Inc. grew its holdings in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after buying an additional 27,329 shares during the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after acquiring an additional 2,869 shares during the last quarter. PDT Partners LLC bought a new position in Target in the 1st quarter valued at about $4,623,000. Mattern Capital Management LLC boosted its stake in Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after purchasing an additional 5,573 shares during the last quarter. Finally, Northern Financial Advisors Inc acquired a new position in Target during the 2nd quarter valued at about $370,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Down 1.5%

Shares of Target stock opened at $88.58 on Tuesday. The firm has a market cap of $40.25 billion, a PE ratio of 10.32, a P/E/G ratio of 2.74 and a beta of 1.19. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. 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 stock has a fifty day moving average price of $90.48 and a 200-day moving average price of $96.15.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the prior year, the business earned $2.57 earnings per share. The firm’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. Equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TGT. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Bank of America reissued an “underperform” rating and issued a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. BTIG Research started coverage on shares of Target in a report on Tuesday, October 14th. They set a “neutral” rating on the stock. Zacks Research downgraded shares of Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Nine research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.71.

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.