ARGA Investment Management LP Sells 29,883 Shares of Target Corporation $TGT

ARGA Investment Management LP lessened its holdings in Target Corporation (NYSE:TGT) by 40.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,389 shares of the retailer’s stock after selling 29,883 shares during the period. ARGA Investment Management LP’s holdings in Target were worth $3,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TGT. LBP AM SA purchased a new stake in Target in the second quarter worth about $5,427,000. Precedent Wealth Partners LLC increased its position in shares of Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after purchasing an additional 2,869 shares in the last quarter. Mattern Capital Management LLC grew 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 worth $7,809,000 after buying an additional 5,573 shares during the last quarter. Northern Financial Advisors Inc acquired a new position in Target during the 2nd quarter valued at about $370,000. Finally, CWM LLC raised its stake in Target by 41.5% in the third quarter. CWM LLC now owns 38,819 shares of the retailer’s stock valued at $3,482,000 after buying an additional 11,378 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TGT shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Target in a research report on Thursday, January 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 price target (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. DA Davidson set a $120.00 price objective on shares of Target in a report on Monday, January 12th. Truist Financial upped their target price on Target from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Target has an average rating of “Hold” and a consensus target price of $103.03.

Target Price Performance

Target stock opened at $108.04 on Friday. The stock has a market capitalization of $48.92 billion, a P/E ratio of 13.11, a P/E/G ratio of 11.58 and a beta of 1.12. The company’s fifty day moving average price is $97.63 and its 200 day moving average price is $96.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. Target Corporation has a 1 year low of $83.44 and a 1 year high of $145.08.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The company had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same period in the previous year, the business earned $1.85 EPS. Target’s quarterly 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, equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a yield of 4.2%. Target’s payout ratio is 55.34%.

Target Company 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.