Evergreen Capital Management LLC Lowers Stock Position in Target Corporation $TGT

Evergreen Capital Management LLC trimmed its position in shares of Target Corporation (NYSE:TGT) by 86.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,159 shares of the retailer’s stock after selling 74,282 shares during the period. Evergreen Capital Management LLC’s holdings in Target were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. WFA of San Diego LLC purchased a new position in shares of Target in the 2nd quarter worth about $25,000. Raleigh Capital Management Inc. increased its position in Target by 63.4% during 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 in the last quarter. Investment Research & Advisory Group Inc. purchased a new position in Target in the second quarter valued at approximately $29,000. Heartwood Wealth Advisors LLC acquired a new position in Target during the third quarter valued at approximately $27,000. Finally, Global Assets Advisory LLC purchased a new stake in Target during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TGT shares. Roth Capital set a $88.00 target price on shares of Target in a research note on Thursday, November 20th. BTIG Research began coverage on Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Citigroup cut their price objective on Target from $100.00 to $89.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Truist Financial upped their target price on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. lowered their target price on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.67.

Target Trading Up 0.1%

NYSE TGT opened at $111.19 on Tuesday. The company has a market capitalization of $50.35 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 12.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. Target Corporation has a 12 month low of $83.44 and a 12 month high of $145.08. The company’s fifty day moving average price is $96.32 and its two-hundred day moving average price is $96.15.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The company had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter in the previous year, the firm earned $1.85 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.