CNB Bank Sells 314 Shares of Target Corporation $TGT

CNB Bank lowered its stake in shares of Target Corporation (NYSE:TGT) by 13.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,091 shares of the retailer’s stock after selling 314 shares during the period. CNB Bank’s holdings in Target were worth $206,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Target by 407.8% in the first 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 during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Target during the second quarter worth $595,839,000. Pacer Advisors Inc. lifted its position 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 worth $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new stake in shares of Target during the first quarter worth $186,361,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TGT. BTIG Research began coverage on Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Bank of America restated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Telsey Advisory Group restated a “market perform” rating and set a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Piper Sandler restated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and an average target price of $109.00.

Target Price Performance

TGT stock opened at $94.34 on Friday. The business has a 50 day moving average price of $91.98 and a 200 day moving average price of $96.35. The stock has a market cap of $42.87 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.74 and a beta of 1.18. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The company has a quick ratio of 0.32, a current ratio of 0.99 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, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company 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 dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.8%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Target 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.