NorthRock Partners LLC Sells 4,062 Shares of Target Corporation $TGT

NorthRock Partners LLC reduced its stake in Target Corporation (NYSE:TGT) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,939 shares of the retailer’s stock after selling 4,062 shares during the quarter. NorthRock Partners LLC’s holdings in Target were worth $9,763,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Punch & Associates Investment Management Inc. raised its holdings in Target by 48.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares during the period. DSG Capital Advisors LLC raised its holdings in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after purchasing an additional 21,726 shares during the period. Precedent Wealth Partners LLC raised its holdings in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after purchasing an additional 2,869 shares during the period. Correct Capital Wealth Management raised its holdings in Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares during the period. Finally, PDT Partners LLC bought a new position in Target in the 1st quarter worth $4,623,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Wolfe Research began coverage on Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target for the company. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Telsey Advisory Group reiterated a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Finally, Evercore ISI cut their price target on Target from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.65.

Target Trading Down 3.7%

Shares of Target stock opened at $85.79 on Monday. The firm has a market cap of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The business has a 50-day moving average price of $94.48 and a 200-day moving average price of $96.82. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a twelve month low of $85.36 and a twelve month high of $161.50.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is 53.15%.

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.