Robertson Stephens Wealth Management LLC Trims Stake in Target Corporation $TGT

Robertson Stephens Wealth Management LLC decreased its position in shares of Target Corporation (NYSE:TGT) by 21.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,400 shares of the retailer’s stock after selling 1,193 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Target were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its stake in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. grew its stake in shares of Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target in the 2nd quarter worth approximately $29,000. Global Assets Advisory LLC purchased a new stake in shares of Target in the 2nd quarter worth approximately $31,000. Finally, WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TGT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research note on Wednesday. Barclays restated an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Finally, Jefferies Financial Group lowered their price objective on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.65.

Target Stock Performance

TGT stock opened at $85.79 on Friday. The stock’s 50 day simple moving average is $94.48 and its 200 day simple moving average is $96.89. The stock has a market capitalization of $38.98 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target Corporation has a 12-month low of $85.36 and a 12-month high of $161.50.

Target (NYSE:TGT) last released its quarterly 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 firm had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 53.15%.

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.