J. Safra Sarasin Holding AG Raises Holdings in Target Corporation $TGT

J. Safra Sarasin Holding AG raised its stake in shares of Target Corporation (NYSE:TGT) by 358.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,156 shares of the retailer’s stock after acquiring an additional 11,071 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Target were worth $1,270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Target by 39.9% during the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after buying an additional 11,047 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Target by 4.1% in the 2nd quarter. Avior Wealth Management LLC now owns 3,215 shares of the retailer’s stock valued at $317,000 after acquiring an additional 127 shares during the period. Sound Income Strategies LLC grew its stake in Target by 125.9% during the 2nd quarter. Sound Income Strategies LLC now owns 908 shares of the retailer’s stock valued at $90,000 after purchasing an additional 506 shares during the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in Target in the 2nd quarter worth approximately $324,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock opened at $101.71 on Thursday. Target Corporation has a one year low of $83.44 and a one year high of $142.24. The firm’s 50 day moving average price is $98.56 and its 200-day moving average price is $96.32. The firm has a market cap of $46.06 billion, a P/E ratio of 12.34, a P/E/G ratio of 11.32 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97.

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

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.5%. Target’s dividend payout ratio is presently 55.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler restated a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Morgan Stanley restated an “overweight” rating and issued a $125.00 price objective on shares of Target in a research report on Thursday, January 15th. Evercore ISI decreased their target price on Target from $100.00 to $95.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 9th. Sanford C. Bernstein reduced their price target on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft set a $108.00 price target on Target in a research report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average target price of $103.03.

Target Company Profile

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.