Target Corporation $TGT Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in shares of Target Corporation (NYSE:TGT) by 9.5% in the second quarter, Holdings Channel reports. The firm owned 5,989,003 shares of the retailer’s stock after selling 630,100 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Target were worth $590,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Kozak & Associates Inc. raised its holdings in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in Target in the 2nd quarter valued at about $29,000. WPG Advisers LLC purchased a new stake in Target during the 1st quarter valued at approximately $32,000. Finally, Global Assets Advisory LLC acquired a new stake in Target during the 2nd quarter worth approximately $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating and issued a $115.00 target price on shares of Target in a report on Monday, October 27th. Bank of America reiterated an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. BTIG Research initiated coverage on shares of Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Piper Sandler restated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.71.

Target Stock Performance

NYSE:TGT opened at $89.96 on Friday. The firm’s fifty day simple moving average is $90.54 and its 200-day simple moving average is $96.20. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The stock has a market cap of $40.88 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal 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 paid a dividend of $1.14 per share. 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. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. 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.