Legacy Capital Wealth Partners LLC Sells 1,711 Shares of Target Corporation $TGT

Legacy Capital Wealth Partners LLC decreased its holdings in Target Corporation (NYSE:TGT) by 30.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,897 shares of the retailer’s stock after selling 1,711 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Target were worth $384,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. JNBA Financial Advisors grew its stake in shares of Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after buying an additional 96 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in Target by 32.3% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after acquiring an additional 98 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares during the period. IFG Advisory LLC grew its position in Target by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock worth $729,000 after acquiring an additional 105 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.2%

Shares of TGT opened at $90.85 on Friday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $90.07 and its 200-day moving average price is $95.57. The firm has a market capitalization of $41.28 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The business had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts anticipate 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. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is presently 55.34%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TGT. Zacks Research lowered Target from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. TD Cowen lowered their price target on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Friday, November 14th. Wolfe Research assumed coverage on shares of Target in a research report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective on the stock. Finally, Bank of America lowered their price objective on shares of Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $102.00.

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.