Courier Capital LLC Reduces Position in Target Corporation $TGT

Courier Capital LLC cut its position in shares of Target Corporation (NYSE:TGT) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,318 shares of the retailer’s stock after selling 556 shares during the period. Courier Capital LLC’s holdings in Target were worth $919,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. boosted its stake in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares during the period. DSG Capital Advisors LLC lifted its holdings in Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock valued at $16,347,000 after buying an additional 21,726 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying an additional 2,869 shares in the last quarter. Correct Capital Wealth Management lifted its holdings in Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after buying an additional 4,189 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in Target during the 1st quarter valued at about $4,623,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 1.8%

NYSE TGT opened at $88.94 on Wednesday. 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 firm has a market cap of $40.41 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.18. The company has a 50 day moving average price of $93.96 and a 200 day moving average price of $96.65. Target Corporation has a 52 week low of $85.36 and a 52 week high of $161.50.

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

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TGT shares. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Wolfe Research started coverage on shares of Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective for the company. Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 price objective on shares of Target in a report on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $109.00.

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.