PNC Financial Services Group Inc. Has $40.63 Million Position in Target Corporation $TGT

PNC Financial Services Group Inc. lessened its holdings in Target Corporation (NYSE:TGT) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,979 shares of the retailer’s stock after selling 45,438 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.10% of Target worth $40,632,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TGT. WFA of San Diego LLC acquired a new position in Target in the 2nd quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Target in the third quarter worth $27,000. Tripletail Wealth Management LLC bought a new stake in shares of Target in the third quarter worth $31,000. Key Financial Inc increased its holdings in Target by 77.4% in the third quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after purchasing an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC raised its position in Target by 1,113.8% during the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock worth $35,000 after purchasing an additional 323 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TGT. Wolfe Research upgraded Target from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Target in a research note on Thursday, January 15th. Roth Mkm set a $88.00 target price on shares of Target in a research report on Thursday, November 20th. Argus lowered their price target on shares of Target from $135.00 to $125.00 and set a “buy” rating for the company in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $103.90.

Target Stock Performance

Shares of TGT stock opened at $115.61 on Tuesday. The company has a market cap of $52.35 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 11.83 and a beta of 1.14. Target Corporation has a 52 week low of $83.44 and a 52 week high of $131.70. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $104.45 and a 200-day moving average of $96.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The company had revenue of $25.27 billion for the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. Target’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio is 55.34%.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.