SBI Securities Co. Ltd. Sells 79,246 Shares of Target Corporation $TGT

SBI Securities Co. Ltd. lowered its stake in Target Corporation (NYSE:TGT) by 92.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,630 shares of the retailer’s stock after selling 79,246 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Target were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TGT. Vanguard Group Inc. grew its stake in Target by 14.7% in the second 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 in the last quarter. Norges Bank bought a new stake in shares of Target during the second quarter worth approximately $578,009,000. State Street Corp boosted its stake in Target by 4.3% in the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after purchasing an additional 1,529,026 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Target by 133.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock worth $219,376,000 after buying an additional 1,273,129 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Target by 96.1% in the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock worth $213,616,000 after purchasing an additional 1,060,885 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Up 4.2%

Shares of TGT opened at $115.48 on Friday. The stock’s 50-day moving average price is $101.70 and its two-hundred day moving average price is $96.64. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $52.29 billion, a PE ratio of 14.01, a PEG ratio of 11.83 and a beta of 1.14. Target Corporation has a 12 month low of $83.44 and a 12 month high of $135.00.

Target (NYSE:TGT) last posted its quarterly earnings data 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. The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. Target’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed 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 is Wednesday, February 11th. This represents a $4.56 annualized dividend and a yield of 3.9%. Target’s dividend payout ratio (DPR) is 55.34%.

Analyst Ratings Changes

A number of research firms recently commented on TGT. Roth Mkm set a $88.00 price target on Target in a research note on Thursday, November 20th. Citigroup cut their price target on shares of Target from $100.00 to $89.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Royal Bank Of Canada decreased their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. JPMorgan Chase & Co. cut 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. Finally, Evercore lifted their price target on Target from $95.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, February 3rd. Ten investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.21.

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.