CMG Global Holdings LLC Sells 442 Shares of Target Corporation $TGT

CMG Global Holdings LLC lessened its holdings in shares of Target Corporation (NYSE:TGT) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,485 shares of the retailer’s stock after selling 442 shares during the quarter. CMG Global Holdings LLC’s holdings in Target were worth $584,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Target during the second quarter valued at $595,839,000. Goldman Sachs Group Inc. increased its holdings in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after acquiring an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after purchasing an additional 370,967 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Target by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock valued at $420,413,000 after purchasing an additional 229,670 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research assumed coverage on Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price on the stock. Royal Bank Of Canada upped their price objective on Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. BTIG Research assumed coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. DA Davidson reduced their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Nine equities research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $109.00.

Target Stock Up 0.8%

Shares of TGT opened at $90.79 on Monday. 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 business has a fifty day moving average of $93.07 and a 200 day moving average of $96.37. The company has a market cap of $41.25 billion, a PE ratio of 10.58, a P/E/G ratio of 2.64 and a beta of 1.18. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last announced 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. The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts expect that Target Corporation will post 8.69 EPS 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 issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. Target’s dividend payout ratio (DPR) is currently 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.