NorthRock Partners LLC Sells 4,062 Shares of Target Corporation $TGT

NorthRock Partners LLC lessened its stake in Target Corporation (NYSE:TGT) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,939 shares of the retailer’s stock after selling 4,062 shares during the period. NorthRock Partners LLC’s holdings in Target were worth $9,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Punch & Associates Investment Management Inc. lifted its stake in shares of Target by 48.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after acquiring an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC increased its holdings in Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock valued at $16,347,000 after purchasing an additional 21,726 shares during the period. Precedent Wealth Partners LLC increased its holdings in Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares during the period. Correct Capital Wealth Management lifted its position in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares during the period. Finally, PDT Partners LLC purchased a new stake in shares of Target in the 1st quarter worth about $4,623,000. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TGT shares. Bank of America reaffirmed an “underperform” rating and issued a $93.00 target price (down from $105.00) on shares of Target in a research report on Friday, August 15th. UBS Group cut their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Citigroup upped their price target on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Evercore ISI cut their price target on Target from $105.00 to $103.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Nine investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.65.

Target Stock Performance

Shares of TGT opened at $85.79 on Monday. The business’s fifty day simple moving average is $94.48 and its two-hundred day simple moving average is $96.82. 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 Corporation has a 12 month low of $85.36 and a 12 month high of $161.50. The company has a market cap of $38.98 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 2.48 and a beta of 1.18.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating 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 period last year, the business posted $2.57 EPS. The company’s revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. 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. Target’s payout ratio 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.