Brighton Jones LLC Trims Stock Holdings in Target Corporation $TGT

Brighton Jones LLC lowered its holdings in Target Corporation (NYSE:TGT) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,528 shares of the retailer’s stock after selling 306 shares during the period. Brighton Jones LLC’s holdings in Target were worth $644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its holdings in Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in Target during the 2nd quarter worth approximately $29,000. Global Assets Advisory LLC bought a new position in Target during the 2nd quarter worth approximately $31,000. Finally, WPG Advisers LLC bought a new position in Target during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.7%

Shares of NYSE TGT opened at $97.06 on Wednesday. The company has a market cap of $44.10 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.18. Target Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The stock’s 50 day simple moving average is $91.67 and its 200 day simple moving average is $96.43.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) 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 business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter last year, the business posted $2.57 EPS. The business’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 4.7%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $115.00 target price on shares of Target in a report on Monday. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Evercore ISI reduced their target price on Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a report on Tuesday, October 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 target price on shares of Target in a report on Wednesday, August 20th. Finally, DA Davidson cut their price target on Target from $115.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus target price 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.