Huntington National Bank Lowers Stock Holdings in Target Corporation $TGT

Huntington National Bank decreased its position in shares of Target Corporation (NYSE:TGT) by 21.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,878 shares of the retailer’s stock after selling 17,528 shares during the period. Huntington National Bank’s holdings in Target were worth $6,302,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Target in the second quarter worth $595,839,000. Pacer Advisors Inc. lifted its stake in Target by 1,364.3% in 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 Target in the first quarter worth $186,361,000. Finally, Goldman Sachs Group Inc. lifted its stake in Target by 35.5% in 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. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Guggenheim reissued a “buy” rating and issued a $115.00 price target on shares of Target in a research note on Monday, October 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Evercore ISI decreased their price objective on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 14th. Finally, Citigroup raised their target price on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.00.

Target Price Performance

TGT stock opened at $90.02 on Wednesday. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The company has a market cap of $40.91 billion, a P/E ratio of 10.49, a PEG ratio of 2.74 and a beta of 1.18. The firm has a 50-day moving average of $91.14 and a 200 day moving average of $96.44. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. Target’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

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