Perpetual Ltd Sells 3,715 Shares of Target Corporation $TGT

Perpetual Ltd trimmed its stake in shares of Target Corporation (NYSE:TGT) by 37.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,174 shares of the retailer’s stock after selling 3,715 shares during the quarter. Perpetual Ltd’s holdings in Target were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Centaurus Financial Inc. lifted its holdings in Target by 2.7% in the 4th quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock worth $514,000 after buying an additional 99 shares during the period. Guardian Wealth Advisors LLC lifted its holdings in Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock worth $422,000 after buying an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after buying an additional 106 shares during the period. Truvestments Capital LLC lifted its holdings in Target by 21.4% in the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after buying an additional 107 shares during the period. Finally, Formidable Asset Management LLC lifted its holdings in Target by 1.2% in the 1st quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock worth $1,012,000 after buying an additional 111 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

NYSE:TGT opened at $88.12 on Monday. 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 company has a market capitalization of $40.04 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.54 and a beta of 1.16. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. The business’s 50-day moving average is $99.10 and its 200 day moving average is $98.78.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period 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. On average, equities research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. 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 annualized dividend and a yield of 5.2%. Target’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Royal Bank Of Canada raised their target price on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Truist Financial raised their target price on Target from $90.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. UBS Group lowered their target price on Target from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Finally, Wedbush restated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $112.69.

Target Company 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.