Keybank National Association OH Trims Stock Holdings in Target Corporation $TGT

Keybank National Association OH reduced its holdings in shares of Target Corporation (NYSE:TGT) by 10.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 155,442 shares of the retailer’s stock after selling 17,851 shares during the quarter. Keybank National Association OH’s holdings in Target were worth $13,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Woodline Partners LP grew its position in shares of Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after purchasing an additional 11,047 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Target during the 2nd quarter valued at $500,000. Ascent Group LLC lifted its holdings in Target by 26.0% during the 2nd quarter. Ascent Group LLC now owns 2,472 shares of the retailer’s stock worth $244,000 after purchasing an additional 510 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in Target by 10.5% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 4,572 shares of the retailer’s stock worth $451,000 after purchasing an additional 433 shares during the period. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada reduced their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. Bank of America lowered their target price on shares of Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a research note on Thursday, November 20th. Finally, Citigroup reduced their price target on shares of Target from $100.00 to $89.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $103.03.

Target Stock Performance

Target stock opened at $105.40 on Friday. 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. The stock has a market cap of $47.73 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 11.19 and a beta of 1.12. The firm’s fifty day moving average price is $99.30 and its 200-day moving average price is $96.33.

Target (NYSE:TGT) last released 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 business had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The firm’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. On average, equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company 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 dividend of $1.14 per share. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 annualized dividend and a dividend yield of 4.3%. Target’s dividend payout ratio is 55.34%.

About Target

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.