Fifth Third Wealth Advisors LLC Decreases Stock Holdings in Target Corporation $TGT

Fifth Third Wealth Advisors LLC decreased its holdings in Target Corporation (NYSE:TGT) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,549 shares of the retailer’s stock after selling 437 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Target were worth $843,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC increased its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Target by 105.7% during the 1st quarter. SG Americas Securities LLC now owns 21,680 shares of the retailer’s stock valued at $2,263,000 after purchasing an additional 11,142 shares during the last quarter. Simon Quick Advisors LLC increased its position in shares of Target by 10.3% during the 1st quarter. Simon Quick Advisors LLC now owns 2,128 shares of the retailer’s stock valued at $222,000 after purchasing an additional 198 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Target during the 1st quarter valued at about $2,150,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Target during the 1st quarter valued at about $103,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 3.7%

Shares of TGT opened at $85.79 on Monday. 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 company has a 50 day simple moving average of $94.48 and a two-hundred day simple moving average of $96.82. The firm has a market cap of $38.98 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the firm posted $2.57 EPS. The company’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. Target’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Bank of America reaffirmed an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Evercore ISI reduced their target price on shares of Target from $105.00 to $103.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Finally, Wolfe Research assumed coverage on shares of Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.65.

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.