RBA Wealth Management LLC Has $1.51 Million Holdings in Target Corporation $TGT

RBA Wealth Management LLC raised its holdings in Target Corporation (NYSE:TGT) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,323 shares of the retailer’s stock after purchasing an additional 1,487 shares during the quarter. RBA Wealth Management LLC’s holdings in Target were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Centaurus Financial Inc. boosted its holdings in Target by 2.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock worth $514,000 after purchasing an additional 99 shares during the period. Guardian Wealth Advisors LLC lifted its stake in 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 acquiring an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings 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 valued at $126,000 after buying an additional 106 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Target by 21.4% during the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after buying an additional 107 shares during the period. Finally, Formidable Asset Management LLC grew its position in Target by 1.2% in the 1st quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock worth $1,012,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TGT shares. UBS Group lowered their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Evercore ISI cut their price target on Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. Guggenheim reaffirmed a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 price objective on shares of Target in a report on Wednesday, August 20th. Finally, Wedbush reissued an “outperform” rating on shares of Target in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $110.48.

Target Stock Up 1.0%

TGT stock opened at $88.04 on Friday. The firm has a market cap of $40.01 billion, a PE ratio of 10.26, a PEG ratio of 2.53 and a beta of 1.16. The firm’s 50 day moving average price is $97.53 and its 200-day moving average price is $98.02. Target Corporation has a one year low of $86.30 and a one year high of $161.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping 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 firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the business posted $2.57 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently announced 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. This represents a $4.56 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is currently 53.15%.

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.