Wealthfront Advisers LLC Trims Stock Position in Target Corporation $TGT

Wealthfront Advisers LLC trimmed its stake in Target Corporation (NYSE:TGT) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,698 shares of the retailer’s stock after selling 1,672 shares during the period. Wealthfront Advisers LLC’s holdings in Target were worth $7,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TGT. JNBA Financial Advisors raised its stake in Target by 3.0% in the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after buying an additional 96 shares in the last quarter. Raleigh Capital Management Inc. raised its position 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 acquiring an additional 102 shares in the last quarter. Guardian Wealth Advisors LLC lifted its stake in shares of Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after purchasing an additional 106 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in Target by 21.4% in the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 3.5%

NYSE:TGT opened at $97.55 on Tuesday. The stock has a market cap of $44.33 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 2.74 and a beta of 1.18. 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 company’s 50 day moving average price is $91.83 and its 200-day moving average price is $96.40. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42.

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

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.7%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is 53.15%.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. Evercore ISI lowered their price objective on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, October 14th. DA Davidson dropped their price objective on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Loop Capital set a $95.00 target price on shares of Target in a report on Thursday, July 17th. Finally, Citigroup upped their price target on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus 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.