Wesbanco Bank Inc. Trims Stock Position in Target Corporation $TGT

Wesbanco Bank Inc. lessened its holdings in Target Corporation (NYSE:TGT) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,633 shares of the retailer’s stock after selling 173 shares during the period. Wesbanco Bank Inc.’s holdings in Target were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Punch & Associates Investment Management Inc. boosted its stake in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after acquiring an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC raised its holdings in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after purchasing an additional 21,726 shares during the period. Viking Fund Management LLC lifted its position in Target by 20.0% during the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock valued at $6,262,000 after purchasing an additional 10,000 shares in the last quarter. Correct Capital Wealth Management grew its holdings in Target by 44.7% during the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after purchasing an additional 4,189 shares during the period. Finally, PDT Partners LLC purchased a new stake in Target in the first quarter worth about $4,623,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. BMO Capital Markets reduced their price objective on shares of Target from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, May 22nd. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. Finally, Bank of America reissued an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.74.

Target Price Performance

Shares of Target stock opened at $90.03 on Monday. The firm has a market cap of $40.91 billion, a PE ratio of 10.49, a PEG ratio of 2.60 and a beta of 1.16. The stock has a 50 day moving average of $100.52 and a 200 day moving average of $99.82. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the prior year, the firm earned $2.57 EPS. The company’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 fiscal year.

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.