Spirit of America Management Corp NY Has $74,000 Holdings in Target Corporation $TGT

Spirit of America Management Corp NY lessened its position in shares of Target Corporation (NYSE:TGT) by 91.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 830 shares of the retailer’s stock after selling 9,000 shares during the period. Spirit of America Management Corp NY’s holdings in Target were worth $74,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after acquiring an additional 6,607,982 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Target during the 2nd quarter valued at about $595,839,000. Norges Bank acquired a new stake in Target during the second quarter worth approximately $578,009,000. State Street Corp increased its holdings in Target by 4.3% in the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after purchasing an additional 1,529,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Target by 133.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock worth $219,376,000 after purchasing an additional 1,273,129 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TGT. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 target price on shares of Target in a research note on Friday, November 14th. Jefferies Financial Group reissued a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, December 18th. TD Cowen decreased their price target on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, November 20th. Finally, Evercore ISI cut their price objective on shares of Target from $100.00 to $95.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 9th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.62.

Target Stock Up 3.1%

Shares of NYSE TGT opened at $99.54 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The company has a 50-day moving average price of $92.65 and a 200-day moving average price of $95.52. The stock has a market capitalization of $45.07 billion, a P/E ratio of 12.08, a P/E/G ratio of 10.50 and a beta of 1.13. Target Corporation has a 1 year low of $83.44 and a 1 year high of $145.08.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $25.27 billion for 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 firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target 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.