JGP Wealth Management LLC Cuts Position in Target Corporation $TGT

JGP Wealth Management LLC lowered its stake in shares of Target Corporation (NYSE:TGT) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,204 shares of the retailer’s stock after selling 899 shares during the quarter. JGP Wealth Management LLC’s holdings in Target were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Punch & Associates Investment Management Inc. increased its holdings in Target by 48.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after buying an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC increased its holdings in Target by 16.1% in the first 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 during the last quarter. Precedent Wealth Partners LLC increased its holdings in Target by 27.7% in the second 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 during the last quarter. Correct Capital Wealth Management increased its holdings in Target by 44.7% in the first 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 during the last quarter. Finally, PDT Partners LLC purchased a new position in Target in the first quarter valued at $4,623,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of 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 company has a market cap of $40.41 billion, a P/E ratio of 10.37, a PEG ratio of 2.54 and a beta of 1.18. Target Corporation has a 52 week low of $85.36 and a 52 week high of $161.50. The company has a 50-day moving average price of $93.96 and a 200 day moving average price of $96.65.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. During the same period last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. 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 dividend on an annualized basis and a dividend yield of 5.1%. Target’s dividend payout ratio (DPR) is 53.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TGT shares. Evercore ISI dropped their price objective on Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a report on Tuesday. Jefferies Financial Group dropped their price objective on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating on shares of Target in a report on Thursday, July 17th. Finally, Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.00.

About Target

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.