Profund Advisors LLC Cuts Position in Target Corporation $TGT

Profund Advisors LLC decreased its holdings in shares of Target Corporation (NYSE:TGT) by 21.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,906 shares of the retailer’s stock after selling 1,655 shares during the period. Profund Advisors LLC’s holdings in Target were worth $583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TGT. Brighton Jones LLC grew its stake in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the last quarter. CWM LLC boosted its stake in Target by 13.8% in the 1st quarter. CWM LLC now owns 60,690 shares of the retailer’s stock worth $6,334,000 after purchasing an additional 7,360 shares in the last quarter. MQS Management LLC purchased a new stake in Target during the 1st quarter valued at about $208,000. Sigma Planning Corp grew its position in Target by 4.7% during the 1st quarter. Sigma Planning Corp now owns 6,337 shares of the retailer’s stock valued at $661,000 after purchasing an additional 285 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Target by 5.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,815 shares of the retailer’s stock valued at $1,337,000 after purchasing an additional 610 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on TGT. 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. DA Davidson decreased their price target on Target from $115.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Loop Capital set a $95.00 price objective on Target in a report on Thursday, July 17th. Finally, Bank of America reissued an “underperform” rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.71.

Target Trading Up 0.4%

Target stock opened at $91.92 on Thursday. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42. The company has a market cap of $41.77 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The business has a 50-day simple moving average of $90.64 and a two-hundred day simple moving average of $96.29.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The company 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%.Target’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s 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.