Fifth Third Wealth Advisors LLC Sells 437 Shares of Target Corporation $TGT

Fifth Third Wealth Advisors LLC reduced its position in shares of Target Corporation (NYSE:TGT) by 4.9% in the second quarter, Holdings Channel reports. 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 reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Brighton Jones LLC boosted 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 acquiring an additional 3,059 shares during the last quarter. SG Americas Securities LLC boosted 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 acquiring an additional 11,142 shares during the last quarter. Simon Quick Advisors LLC boosted 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 acquiring an additional 198 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Target during the 1st quarter valued at approximately $2,150,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Target during the 1st quarter valued at approximately $103,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

TGT stock 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. The business has a 50-day moving average price of $94.48 and a 200 day moving average price of $96.82. The company has a market capitalization of $38.98 billion, a P/E ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. Target Corporation has a 1-year low of $85.36 and a 1-year high of $161.50.

Target (NYSE:TGT) last released its quarterly earnings data 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 firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on TGT shares. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Loop Capital set a $95.00 price target on Target in a research report on Thursday, July 17th. Truist Financial lowered their price target on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Wedbush reiterated an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.65.

About Target

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.