Stock Yards Bank & Trust Co. Reduces Holdings in Target Corporation $TGT

Stock Yards Bank & Trust Co. trimmed its position in shares of Target Corporation (NYSE:TGT) by 14.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,962 shares of the retailer’s stock after selling 2,913 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Target were worth $1,673,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its holdings in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares in the last quarter. Kozak & Associates Inc. grew its holdings in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target in the 2nd quarter valued at $29,000. WPG Advisers LLC purchased a new stake in Target in the 1st quarter valued at $32,000. Finally, 1248 Management LLC purchased a new stake in Target in the 1st quarter valued at $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

TGT opened at $89.03 on Friday. The stock’s 50-day moving average price is $95.89 and its 200 day moving average price is $97.48. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.57 and a beta of 1.18.

Target (NYSE:TGT) last posted its earnings results 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. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is 53.15%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Guggenheim restated a “buy” rating and issued a $115.00 target price on shares of Target in a report on Thursday, August 21st. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Barclays reiterated an “underweight” rating and set a $91.00 price target on shares of Target in a report on Monday, July 21st. Jefferies Financial Group lowered their price target on Target from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Finally, Evercore ISI lowered their price target on Target from $106.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus price target of $109.71.

Target Company Profile

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.