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

First Hawaiian Bank has cut its investment in Target Co. (NYSE:TGT) by 54.1% during the fourth quarter, as reflected in its latest 13F filing with the Securities and Exchange Commission. After selling 3,330 shares, the bank now holds 2,822 shares of the popular retailer. The total value of First Hawaiian Bank's Target holdings stands at approximately $381,000 based on the most recent filing.

In addition to First Hawaiian Bank's adjustments, several other institutional investors have also changed their stakes in Target recently. State Street Corp increased its holdings in Target by 8.3% during the third quarter, accumulating a total of 35,484,252 shares worth about $5.53 billion after buying an additional 2,732,801 shares. Meanwhile, International Assets Investment Management LLC saw a dramatic increase of 9,940.6% in its stake in the same period, owning 2,001,391 shares valued at approximately $311.94 million following the acquisition of an astounding 1,981,458 shares.

Furthermore, Two Sigma Advisers LP boosted its holdings by 173.2% in the third quarter, owning 2,369,400 shares worth about $369.30 million after purchasing an extra 1,502,200 shares. FMR LLC also increased its stake by 11.7%, bringing its total to 9,980,381 shares currently valued at around $1.56 billion after adding 1,046,044 shares. Lastly, AQR Capital Management LLC raised its holdings by an impressive 711.2% in the second quarter and now owns 876,531 shares valued at about $129.76 million after acquiring an additional 768,479 shares. Institutional investors and hedge funds currently hold approximately 79.73% of Target's stock.

Recent Analyst Reevaluations

Various analysts have recently provided updated ratings for Target shares. Deutsche Bank downgraded the stock from a "buy" to a "hold" rating and decreased its price target from $184.00 to $108.00 on November 20. BMO Capital Markets also cut its target price from $160.00 to $120.00 while maintaining a "market perform" rating. Meanwhile, JPMorgan Chase & Co. reduced their price target from $167.00 to $139.00, issuing a "neutral" rating.

Evercore ISI similarly lowered its price target from $165.00 to $130.00 and maintained its "in-line" rating. Guggenheim set a target price of $145.00, down from $180.00, while maintaining a "buy" rating on Target shares. At present, there is one sell rating, with seventeen hold ratings, and fifteen buy ratings from analysts. MarketBeat indicates that Target has a consensus rating of "Hold" along with an average price target of $160.57.

Target's Stock Performance

On January 12, 2025, Target shares 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 has experienced a low of $120.21 and a high of $181.86. The company has a market capitalization of $64.97 billion with a price-to-earnings ratio of 15.03 and a PEG ratio of 2.21. Its beta is currently 1.17, with a current ratio of 0.94, a quick ratio of 0.25, and a debt-to-equity ratio of 0.99.

Recently, Target reported its quarterly earnings on November 20. The company announced earnings of $1.85 per share for the quarter, falling short of analysts’ expectations of $2.30 by $0.45. Revenue for the quarter amounted to $25.23 billion, also missing predictions of $25.87 billion. Target's net margin stood at 4.06%, with a return on equity of 31.11%. Year-over-year, the company saw a revenue increase of 0.9%. In the same quarter the previous year, the retailer had reported earnings of $2.10 per share. Analysts expect Target to achieve earnings of 8.6 per share by the end of the current year.

About Target Co.

Target Corporation is a retail company based in the United States, operating as a general merchandise retailer. The company offers a wide range of products, including apparel for all ages, jewelry, beauty and personal care products, baby goods, cleaning supplies, and various household items.

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