Target Corporation $TGT Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Target Corporation (NYSE:TGT) by 20.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,662 shares of the retailer’s stock after selling 13,382 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Target were worth $4,998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. acquired a new position in shares of Target during the second quarter worth $239,000. Vest Financial LLC increased its stake in shares of Target by 49.5% in the second quarter. Vest Financial LLC now owns 584,572 shares of the retailer’s stock worth $57,668,000 after buying an additional 193,474 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Target by 3.5% in the second quarter. Yousif Capital Management LLC now owns 122,358 shares of the retailer’s stock worth $12,071,000 after buying an additional 4,110 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Target by 6.3% in the second quarter. Pzena Investment Management LLC now owns 366,820 shares of the retailer’s stock worth $36,187,000 after buying an additional 21,691 shares during the last quarter. Finally, Welch Group LLC increased its stake in shares of Target by 14.4% in the second quarter. Welch Group LLC now owns 61,631 shares of the retailer’s stock worth $6,080,000 after buying an additional 7,744 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Wedbush restated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Wolfe Research initiated coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target for the company. Guggenheim restated a “buy” rating and issued a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Finally, BTIG Research started coverage on shares of Target in a research note on Tuesday. They issued a “neutral” rating for the company. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Target has an average rating of “Hold” and a consensus target price of $109.00.

Target Stock Up 1.8%

TGT stock opened at $88.94 on Wednesday. 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 Corporation has a 1-year low of $85.36 and a 1-year high of $161.50. The firm has a fifty day moving average price of $93.96 and a two-hundred day moving average price of $96.65. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.54 and a beta of 1.18.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 firm had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm earned $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. Research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

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

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.