Evergreen Private Wealth LLC Acquires 29,442 Shares of Target Corporation $TGT

Evergreen Private Wealth LLC raised its holdings in shares of Target Corporation (NYSE:TGT) by 2,091.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,850 shares of the retailer’s stock after purchasing an additional 29,442 shares during the period. Evergreen Private Wealth LLC’s holdings in Target were worth $3,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. Brighton Jones LLC raised its position in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Centaurus Financial Inc. increased its position in Target by 2.7% during the 4th quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock valued at $514,000 after buying an additional 99 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Target by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,086 shares of the retailer’s stock valued at $22,451,000 after buying an additional 10,356 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Target during the 4th quarter valued at approximately $49,000. Finally, Wellington Management Group LLP increased its position in Target by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer’s stock valued at $7,622,000 after buying an additional 6,253 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $87.16 on Friday. The company has a market capitalization of $39.60 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The business’s fifty day moving average is $97.83 and its 200 day moving average is $98.25. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate 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%.Target’s quarterly revenue was down .9% compared to the same quarter last year. 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. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.2%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TGT shares. Royal Bank Of Canada raised their price objective on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Truist Financial raised their price objective on Target from $90.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. Barclays reaffirmed an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Guggenheim reiterated a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Finally, UBS Group cut their target price on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.48.

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.