Forvis Mazars Wealth Advisors LLC Has $3.18 Million Stock Position in Target Corporation $TGT

Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Target Corporation (NYSE:TGT) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,183 shares of the retailer’s stock after buying an additional 180 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Target were worth $3,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Brighton Jones LLC boosted its holdings in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Target by 11.3% during the first quarter. Premier Path Wealth Partners LLC now owns 3,525 shares of the retailer’s stock worth $368,000 after purchasing an additional 357 shares during the last quarter. Blue Trust Inc. boosted its holdings in Target by 3.1% during the first quarter. Blue Trust Inc. now owns 5,136 shares of the retailer’s stock worth $536,000 after purchasing an additional 153 shares during the last quarter. Segment Wealth Management LLC purchased a new position in Target during the first quarter worth about $279,000. Finally, Rockline Wealth Management LLC boosted its holdings in Target by 4.2% during the first quarter. Rockline Wealth Management LLC now owns 32,670 shares of the retailer’s stock worth $3,409,000 after purchasing an additional 1,330 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE TGT opened at $90.79 on Friday. The company’s 50 day moving average is $93.07 and its 200-day moving average is $96.36. Target Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. 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 firm has a market cap of $41.25 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) 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 company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The company’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. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TGT. Guggenheim restated a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Citigroup boosted their target price on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Barclays reiterated an “underweight” rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Evercore ISI dropped their target price on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 14th. Finally, UBS Group dropped their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Target currently has an average rating of “Hold” and an average price target of $109.00.

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.