Target Corporation $TGT Stock Position Lowered by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its position in Target Corporation (NYSE:TGT) by 22.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,217 shares of the retailer’s stock after selling 653 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Target were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. increased its stake in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Target in the 2nd quarter valued at approximately $595,839,000. Pacer Advisors Inc. increased its stake in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after buying an additional 3,065,035 shares during the period. Nuveen LLC acquired a new position in Target in the 1st quarter valued at approximately $186,361,000. Finally, Goldman Sachs Group Inc. increased its stake in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after buying an additional 1,406,653 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $89.36 on Wednesday. Target Corporation has a 1 year low of $86.30 and a 1 year high of $161.50. The firm’s fifty day simple moving average is $95.25 and its 200 day simple moving average is $97.27. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $40.60 billion, a PE ratio of 10.41, a PEG ratio of 2.57 and a beta of 1.18.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the business posted $2.57 EPS. Target’s revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Bank of America restated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Guggenheim restated a “buy” rating and set a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $109.65.

About Target

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.