Eastern Bank Sells 205 Shares of Target Corporation $TGT

Eastern Bank reduced its position in shares of Target Corporation (NYSE:TGT) by 9.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,863 shares of the retailer’s stock after selling 205 shares during the quarter. Eastern Bank’s holdings in Target were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Raleigh Capital Management Inc. lifted its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares during the period. Guardian Wealth Advisors LLC lifted its holdings in shares of Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after purchasing an additional 106 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after purchasing an additional 107 shares during the last quarter. Finally, Formidable Asset Management LLC raised its stake in Target by 1.2% during the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock valued at $1,012,000 after buying an additional 111 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TGT. UBS Group lowered their price objective on Target from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Barclays reaffirmed an “underweight” rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Piper Sandler restated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Bank of America restated an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a report on Friday, August 15th. Nine research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $109.65.

Target Price Performance

Shares of TGT opened at $85.79 on Monday. The firm has a market cap of $38.98 billion, a PE ratio of 10.00, a P/E/G ratio of 2.48 and a beta of 1.18. 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 fifty day simple moving average of $94.48 and a two-hundred day simple moving average of $96.82. Target Corporation has a 1-year low of $85.36 and a 1-year high of $161.50.

Target (NYSE:TGT) last announced its earnings results 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. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 53.15%.

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.