Linscomb Wealth Inc. Lowers Stake in Target Corporation $TGT

Linscomb Wealth Inc. decreased its position in shares of Target Corporation (NYSE:TGT) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,817 shares of the retailer’s stock after selling 167 shares during the quarter. Linscomb Wealth Inc.’s holdings in Target were worth $377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Target during the second quarter worth about $595,839,000. Goldman Sachs Group Inc. boosted 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 worth $560,420,000 after buying an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after buying an additional 370,967 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Target by 6.0% in 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 valued at $420,413,000 after buying an additional 229,670 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $92.92 on Friday. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.74 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. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The business has a 50-day moving average of $91.37 and a 200-day moving average of $96.40.

Target (NYSE:TGT) last posted its quarterly earnings data 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. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGT. UBS Group cut 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. Wolfe Research assumed coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target for the company. Bank of America reaffirmed 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. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Wedbush restated an “outperform” rating on shares of Target in a report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $109.00.

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.