Cornerstone Select Advisors LLC Reduces Stock Position in Target Corporation $TGT

Cornerstone Select Advisors LLC trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 27.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,915 shares of the retailer’s stock after selling 1,082 shares during the quarter. Cornerstone Select Advisors LLC’s holdings in Target were worth $288,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kozak & Associates Inc. raised its position in Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. boosted its holdings 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 purchasing an additional 102 shares during the period. Investment Research & Advisory Group Inc. bought a new position in shares of Target during the 2nd quarter valued at approximately $29,000. WPG Advisers LLC purchased a new stake in Target during the 1st quarter valued at $32,000. Finally, Global Assets Advisory LLC bought a new stake in Target in the second quarter worth $31,000. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BTIG Research began coverage on shares of Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Evercore ISI reaffirmed a “positive” rating and set a $100.00 price target on shares of Target in a research note on Thursday. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Truist Financial raised their price objective on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research report on Monday, October 27th. Ten research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.97.

Target Stock Up 4.6%

Shares of NYSE TGT opened at $87.51 on Friday. Target Corporation has a 52-week low of $83.44 and a 52-week high of $145.08. The firm has a market capitalization of $39.76 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.74 and a beta of 1.19. The stock has a 50 day moving average price of $90.13 and a 200 day moving average price of $95.90. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $25.28 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same period in the previous year, the company posted $1.85 EPS. Target’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm 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 dividend of $1.14 per share. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. Target’s payout ratio is 55.34%.

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.