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

On January 12th, 2025, it was reported that First Hawaiian Bank has significantly decreased its investment in Target Co. (NYSE:TGT – Free Report) by 54.1% during the fourth quarter, as disclosed in the latest 13F filing with the Securities and Exchange Commission. After selling 3,330 shares, the institutional investor now owns 2,822 shares of the retail giant, worth approximately $381,000 according to the recent SEC report.

Other institutional investors have also made recent adjustments to their shares in Target. For example, State Street Corp increased its holdings by 8.3% during the third quarter, now owning 35,484,252 shares valued at around $5.53 billion after purchasing an additional 2,732,801 shares. Meanwhile, International Assets Investment Management LLC saw an impressive 9,940.6% growth in its stake, acquiring 2,001,391 shares valued at $311.94 million after obtaining an additional 1,981,458 shares. Additionally, Two Sigma Advisers LP raised its holdings by 173.2%, now possessing 2,369,400 shares worth approximately $369.30 million after a gain of 1,502,200 shares.

FMR LLC also increased its position by 11.7% during the third quarter, now owning 9,980,381 shares valued at about $1.56 billion after purchasing another 1,046,044 shares. Moreover, AQR Capital Management LLC raised its stake by 711.2% in the previous quarter, acquiring 876,531 shares valued at $129.76 million after adding 768,479 shares. Currently, institutional investors and hedge funds own approximately 79.73% of Target's stock.

Analyst Ratings Changes

Recently, multiple research analysts have reassessed their ratings for Target’s stock. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” to a “hold” rating, lowering their price target from $184.00 to $108.00 on November 20th. In a similar move, BMO Capital Markets decreased the target price from $160.00 to $120.00 and established a “market perform” rating on November 21st. Additionally, JPMorgan Chase & Co. cut their price target from $167.00 to $139.00 and assigned a “neutral” rating on the same day.

Evercore ISI also reduced their price objective, lowering it from $165.00 to $130.00 while maintaining an “in-line” rating. Meanwhile, Guggenheim adjusted their target from $180.00 to $145.00 and kept a “buy” rating. Among analysts, one has rated the stock as a sell, while seventeen have given it a hold rating, and fifteen have issued buy ratings. According to MarketBeat, Target currently holds a consensus rating of “Hold” with an average price target of $160.57.

Target Price Performance

As of recently, Target's stock opened at $141.78. The stock has a 50-day moving average price of $137.58 and a 200-day moving average price of $145.54. Over the past year, Target's stock has reached a low of $120.21 and a high of $181.86. The company has a market capitalization of $64.97 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 2.21, and a beta of 1.17. Its current ratio stands at 0.94, with a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target last disclosed its quarterly earnings on November 20th, revealing earnings per share of $1.85 for the quarter, which fell short of analysts’ expectations of $2.30 by $0.45. The retailer generated a revenue of $25.23 billion, slightly below the expected $25.87 billion. Target reported a net margin of 4.06% and a return on equity of 31.11%, indicating a revenue increase of 0.9% year-over-year. Last year, during the same quarter, it had an EPS of $2.10. Analysts project that Target will post earnings of 8.6 per share for the current fiscal year.

Target Profile

Target Corporation operates as a general merchandise retailer across the United States, offering products in various categories including apparel for all age groups, jewelry, accessories, beauty and personal care items, baby gear, cleaning products, and pet supplies.

FirstHawaiianBank, Target, Investments