Wealthfront Advisers LLC Reduces Stock Position in Target Corporation $TGT

Wealthfront Advisers LLC cut its stake in shares of Target Corporation (NYSE:TGT) by 2.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 77,698 shares of the retailer’s stock after selling 1,672 shares during the quarter. Wealthfront Advisers LLC’s holdings in Target were worth $7,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kozak & Associates Inc. grew its stake in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the second quarter valued at approximately $29,000. WPG Advisers LLC purchased a new stake in Target during the first quarter valued at approximately $32,000. Finally, Global Assets Advisory LLC bought a new position in Target in the second quarter worth approximately $31,000. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

TGT has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Royal Bank Of Canada increased their target price on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Finally, BTIG Research began coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Target presently has an average rating of “Hold” and an average price target of $109.00.

Target Stock Up 3.5%

Shares of TGT opened at $97.55 on Tuesday. The business’s 50 day moving average is $91.83 and its 200 day moving average is $96.40. 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 12-month low of $85.36 and a 12-month high of $158.42. The company has a market capitalization of $44.33 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings data 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 business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the firm posted $2.57 EPS. The company’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal 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 paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

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.