Precedent Wealth Partners LLC Grows Position in Target Corporation $TGT

Precedent Wealth Partners LLC raised its position in Target Corporation (NYSE:TGT) by 27.7% during the second quarter, HoldingsChannel.com reports. The firm owned 13,208 shares of the retailer’s stock after buying an additional 2,869 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Target were worth $1,303,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Raleigh Capital Management Inc. raised 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. Guardian Wealth Advisors LLC raised its holdings in shares of Target by 2.6% during the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after buying an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Target by 9.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after buying an additional 106 shares during the period. Truvestments Capital LLC raised its holdings in shares of Target by 21.4% during the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after buying an additional 107 shares during the period. Finally, Formidable Asset Management LLC raised its holdings in shares of Target by 1.2% during the 1st quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock valued at $1,012,000 after buying an additional 111 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TGT. Bank of America reiterated an “underperform” rating and set a $93.00 target price (down from $105.00) on shares of Target in a report on Friday, August 15th. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Wedbush reiterated an “outperform” rating on shares of Target in a report on Thursday, July 17th. Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 target price on shares of Target in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada raised their target price on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Nine 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.com, Target presently has an average rating of “Hold” and a consensus target price of $109.71.

Target Price Performance

Shares of TGT opened at $89.03 on Friday. The firm has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18. The stock has a 50 day moving average of $95.89 and a 200-day moving average of $97.53. 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 52 week low of $86.30 and a 52 week high of $161.50.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The company 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 revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 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.