Precedent Wealth Partners LLC Grows Stock Position in Target Corporation $TGT

Precedent Wealth Partners LLC increased its holdings in shares of Target Corporation (NYSE:TGT) by 27.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,208 shares of the retailer’s stock after acquiring an additional 2,869 shares during the period. Precedent Wealth Partners LLC’s holdings in Target were worth $1,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Brighton Jones LLC grew 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 acquiring an additional 3,059 shares during the period. NBC Securities Inc. grew its holdings in Target by 208,850.0% during the first quarter. NBC Securities Inc. now owns 4,179 shares of the retailer’s stock worth $436,000 after acquiring an additional 4,177 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Target by 16.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,906 shares of the retailer’s stock worth $616,000 after acquiring an additional 828 shares during the period. Chesley Taft & Associates LLC grew its holdings in Target by 13.1% during the first quarter. Chesley Taft & Associates LLC now owns 9,756 shares of the retailer’s stock worth $1,018,000 after acquiring an additional 1,130 shares during the period. Finally, Vest Financial LLC grew its holdings in Target by 2.9% during the first quarter. Vest Financial LLC now owns 391,098 shares of the retailer’s stock worth $40,815,000 after acquiring an additional 11,122 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI lowered their target price on Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, September 23rd. Barclays reissued an “underweight” rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Wedbush reissued an “outperform” rating on shares of Target in a report on Thursday, July 17th. Bank of America reissued an “underperform” rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Finally, 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. Nine analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Target has an average rating of “Hold” and an average price target of $109.71.

Target Stock Performance

NYSE TGT opened at $89.03 on Friday. The business’s 50-day moving average price is $95.89 and its 200 day moving average price is $97.53. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The company has a market capitalization of $40.46 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the business posted $2.57 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts predict that Target Corporation will post 8.69 earnings per share 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 dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. 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.