New York State Common Retirement Fund Reduces Stock Holdings in Target Corporation $TGT

New York State Common Retirement Fund cut its holdings in Target Corporation (NYSE:TGT) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 552,848 shares of the retailer’s stock after selling 15,049 shares during the quarter. New York State Common Retirement Fund’s holdings in Target were worth $49,590,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JNBA Financial Advisors increased its stake in Target by 3.0% during the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after purchasing an additional 96 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Target by 32.3% during the second quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after buying an additional 98 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of Target by 0.6% during the second quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock valued at $1,738,000 after buying an additional 100 shares during the last quarter. Binnacle Investments Inc increased its position in shares of Target by 11.4% in the 2nd quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock valued at $100,000 after acquiring an additional 104 shares during the period. Finally, IFG Advisory LLC raised its stake in Target by 1.4% in the 2nd quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock worth $729,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TGT shares. Royal Bank Of Canada dropped their price target on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Target in a research report on Monday, October 27th. Argus cut their price target on shares of Target from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, December 1st. Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a research report on Thursday, January 8th. Finally, Mizuho dropped their price objective on shares of Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Ten equities 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.03.

Target Stock Up 2.5%

TGT opened at $105.40 on Friday. The company has a fifty day moving average of $99.30 and a two-hundred day moving average of $96.37. The stock has a market capitalization of $47.72 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 11.19 and a beta of 1.12. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $140.39. 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 (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $25.44 billion. During the same period last year, the firm 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. On average, research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.3%. Target’s payout ratio is 55.34%.

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.