Plimoth Trust Co. LLC Has $793,000 Stock Position in Target Corporation $TGT

Plimoth Trust Co. LLC lowered its stake in Target Corporation (NYSE:TGT) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,037 shares of the retailer’s stock after selling 550 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Target were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Target by 407.8% during 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 purchasing an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the second quarter worth $595,839,000. Pacer Advisors Inc. grew its holdings in shares of Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $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 during the first quarter valued at $186,361,000. Finally, Goldman Sachs Group Inc. raised its position in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after buying an additional 1,406,653 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 0.5%

TGT stock opened at $89.03 on Monday. The firm has a market cap of $40.46 billion, a PE ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18. Target Corporation has a 1 year low of $86.30 and a 1 year high of $161.50. The company has a fifty day simple moving average of $95.89 and a 200 day simple moving average of $97.43. 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 (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. The company 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%.The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal 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 issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Jefferies Financial Group lowered their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Barclays reaffirmed an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Bank of America reissued an “underperform” rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.