First Hawaiian Bank Reduces Stake in Target Co. (NYSE:TGT)

On January 12th, 2025, it was reported that First Hawaiian Bank has diminished its ownership in shares of Target Co. (NYSE:TGT) by 54.1% during the fourth quarter. This information comes from the bank’s latest 13F filing with the Securities & Exchange Commission. Following this reduction, the institutional investor holds 2,822 shares of Target's stock after selling 3,330 shares during the quarter. As of the most recent filing, the bank's stake in Target was valued at approximately $381,000.

A number of other institutional investors have also recently adjusted their positions in Target. For instance, State Street Corp increased its holdings by 8.3% in the third quarter and now owns 35,484,252 shares worth around $5.53 billion, following the acquisition of an additional 2,732,801 shares. In a more dramatic change, International Assets Investment Management LLC boosted its stake by an astonishing 9,940.6% in the same quarter, now holding 2,001,391 shares valued at $311.94 million after adding 1,981,458 shares.

Investor Movements

Two Sigma Advisers LP reported a 173.2% increase in its holdings, now owning 2,369,400 shares valued at $369.30 million after obtaining an extra 1,502,200 shares. Meanwhile, FMR LLC has raised its position in Target by 11.7% during the third quarter, currently possessing 9,980,381 shares worth approximately $1.56 billion after an acquisition of 1,046,044 shares. Additionally, AQR Capital Management LLC lifted its stake by 711.2% during the second quarter, now holding 876,531 shares valued at $129.76 million after an addition of 768,479 shares. Institutional investors and hedge funds collectively own 79.73% of Target's stock.

Changes in Analyst Ratings

Recently, several research analysts have expressed their views on Target's stock. Deutsche Bank Aktiengesellschaft downgraded Target from a 'buy' to 'hold' rating, reducing their price target from $184.00 to $108.00 as noted in a report dated November 20th. Similarly, BMO Capital Markets lowered their target price for Target from $160.00 to $120.00 while maintaining a 'market perform' rating. JPMorgan Chase & Co. also decreased their price target from $167.00 to $139.00, setting a 'neutral' rating for the company. Other analysts, including Evercore ISI and Guggenheim, have also made downward adjustments to their price objectives for Target. Currently, one investment analyst has issued a 'sell' rating, while seventeen analysts have a 'hold' rating and fifteen have provided 'buy' ratings, resulting in a consensus rating of 'Hold' with an average price target of $160.57 according to MarketBeat.

Target's Stock Performance

As of Friday, shares of Target opened at $141.78. The stock has a 50-day moving average of $137.58 and a 200-day moving average of $145.54. Over the past twelve months, the stock has experienced a low of $120.21 and a high of $181.86. Target Co. has a market capitalization of $64.97 billion, with a price-to-earnings ratio of 15.03, a PEG ratio of 2.21, and a beta of 1.17. Financial metrics indicate a current ratio of 0.94, a quick ratio of 0.25, and a debt-to-equity ratio of 0.99.

In its most recent earnings report, announced on November 20th, Target reported earnings per share of $1.85, falling short of analysts' expectations which were set at $2.30. The company reported revenues of $25.23 billion, which also lagged behind the estimated $25.87 billion. Target showed a net margin of 4.06% with a return on equity of 31.11%. Compared to the same quarter last year, this represents a year-over-year revenue increase of 0.9%, though it is lower than the previous year's earnings per share of $2.10. Analysts predict that Target will achieve earnings of 8.6 per share over the current year.

Overview of Target Corporation

Target Corporation is a prominent general merchandise retailer operating in the United States. The company sells apparel for all ages, including women, men, boys, girls, toddlers, and infants. In addition to clothing, Target provides jewelry, personal care items, baby products, cleaning supplies, paper goods, and pet necessities.

investment, shareholders, analysts, performance, retailer