Steward Partners Investment Advisory LLC Sells 1,904 Shares of Target Corporation $TGT

Steward Partners Investment Advisory LLC reduced its holdings in Target Corporation (NYSE:TGT) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,409 shares of the retailer’s stock after selling 1,904 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Target were worth $4,874,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the second quarter valued at $595,839,000. Nuveen LLC bought a new position in shares of Target in the first quarter valued at about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its position in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after buying an additional 1,406,653 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGT. Citigroup lowered their price objective on shares of Target from $100.00 to $89.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Jefferies Financial Group decreased their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.00.

Target Trading Up 3.8%

Shares of NYSE TGT opened at $89.83 on Thursday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $145.08. The firm has a market capitalization of $40.82 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The company’s 50 day simple moving average is $90.01 and its 200 day simple moving average is $95.70.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 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 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date of this dividend 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 yield of 5.1%. Target’s payout ratio is currently 55.34%.

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.