McKinley Carter Wealth Services Inc. Decreases Stake in Target Corporation $TGT

McKinley Carter Wealth Services Inc. lessened its stake in shares of Target Corporation (NYSE:TGT) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,092 shares of the retailer’s stock after selling 125 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Target were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Target during the 2nd quarter worth $595,839,000. Goldman Sachs Group Inc. raised its holdings in shares of Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after acquiring an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Target by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after acquiring an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Target by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock worth $420,413,000 after acquiring an additional 229,670 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TGT shares. Bank of America restated an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a report on Friday, August 15th. Barclays restated an “underweight” rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. UBS Group reduced their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Finally, Piper Sandler restated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $109.65.

Target Stock Performance

NYSE TGT opened at $85.79 on Friday. The company has a market cap of $38.98 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.58 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The stock has a 50-day moving average of $94.48 and a two-hundred day moving average of $96.95. Target Corporation has a 1-year low of $85.36 and a 1-year 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 during 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 revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.3%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

Target 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.