Erste Asset Management GmbH Cuts Stock Holdings in Target Corporation $TGT

Erste Asset Management GmbH trimmed its stake in shares of Target Corporation (NYSE:TGT) by 72.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,151 shares of the retailer’s stock after selling 60,758 shares during the period. Erste Asset Management GmbH’s holdings in Target were worth $2,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Nuveen LLC purchased a new position in shares of Target in the 1st quarter worth $186,361,000. Ameriprise Financial Inc. grew its stake in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after buying an additional 1,506,275 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after buying an additional 1,406,653 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Target Trading Down 1.6%

Shares of TGT opened at $97.0770 on Friday. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.84. The company has a 50-day moving average of $101.99 and a 200 day moving average of $104.11. The firm has a market capitalization of $44.11 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter last year, the business posted $2.57 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.6%. Target’s dividend payout ratio (DPR) is presently 50.11%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of recent research reports. Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of Target in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Truist Financial lifted their price target on shares of Target from $90.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Finally, Barclays reaffirmed an “underweight” rating and set a $91.00 price target on shares of Target in a research note on Monday, July 21st. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $113.55.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.