Target Corporation $TGT Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Target Corporation (NYSE:TGT) by 5.3% in the third quarter, Holdings Channel.com reports. The fund owned 3,395,673 shares of the retailer’s stock after selling 189,271 shares during the quarter. Bank of New York Mellon Corp’s holdings in Target were worth $304,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGT. Vanguard Group Inc. raised its stake in Target by 14.7% in the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. State Street Corp raised its position in shares of Target by 4.3% in the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after buying an additional 1,529,026 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Target by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock valued at $1,602,825,000 after buying an additional 277,176 shares during the last quarter. Norges Bank purchased a new position in shares of Target in the second quarter worth about $578,009,000. Finally, Invesco Ltd. boosted its position in Target by 9.6% during the second quarter. Invesco Ltd. now owns 3,549,382 shares of the retailer’s stock worth $350,146,000 after acquiring an additional 310,205 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. TD Cowen cut their price objective on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Argus reduced their price objective on Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, December 1st. BTIG Research began coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Target in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada reduced their price target on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average price target of $103.03.

Target Stock Performance

Shares of Target stock opened at $102.74 on Friday. The firm has a market cap of $46.52 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 11.07 and a beta of 1.12. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. Target Corporation has a 52 week low of $83.44 and a 52 week high of $142.10. The business’s fifty day simple moving average is $98.94 and its 200-day simple moving average is $96.36.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, February 11th. Target’s dividend payout ratio is currently 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.