Bingham Private Wealth LLC Lowers Stock Holdings in Target Corporation $TGT

Bingham Private Wealth LLC trimmed its stake in Target Corporation (NYSE:TGT) by 16.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,143 shares of the retailer’s stock after selling 413 shares during the period. Bingham Private Wealth LLC’s holdings in Target were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. boosted its position in Target by 48.1% in the 1st 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 period. DSG Capital Advisors LLC boosted its position in Target by 16.1% in 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 during the period. Correct Capital Wealth Management lifted its position in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares during the period. Precedent Wealth Partners LLC lifted its position in shares of Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after purchasing an additional 2,869 shares during the period. Finally, PDT Partners LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $4,623,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 0.0%

Shares of TGT stock opened at $89.00 on Tuesday. The stock’s fifty day moving average price is $95.54 and its 200 day moving average price is $97.32. The company has a market cap of $40.44 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

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. 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 the consensus estimate of $24.84 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. The business’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, 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 disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research report on Saturday, September 27th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 price target on shares of Target in a research report on Thursday, August 21st. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, 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 target for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have given 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 $109.71.

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.