Harbour Investments Inc. Reduces Holdings in Target Corporation $TGT

Harbour Investments Inc. lowered its position in shares of Target Corporation (NYSE:TGT) by 7.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,878 shares of the retailer’s stock after selling 634 shares during the period. Harbour Investments Inc.’s holdings in Target were worth $777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. increased its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Target in the second quarter worth $595,839,000. Pacer Advisors Inc. increased its stake in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new stake in shares of Target in the first quarter worth $186,361,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after buying an additional 1,406,653 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Citigroup lifted their price objective on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Evercore ISI decreased their price objective on shares of Target from $103.00 to $100.00 and set an “in-line” rating for the company in a report on Tuesday, October 14th. Finally, Barclays reaffirmed an “underweight” rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $109.00.

Target Stock Performance

Shares of TGT opened at $90.79 on Friday. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18. 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 firm has a fifty day moving average of $93.07 and a 200-day moving average of $96.36.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) 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 the consensus estimate of $24.84 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

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.