Praxis Investment Management Inc. Sells 480 Shares of Target Corporation $TGT

Praxis Investment Management Inc. lessened its position in Target Corporation (NYSE:TGT) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,470 shares of the retailer’s stock after selling 480 shares during the period. Praxis Investment Management Inc.’s holdings in Target were worth $836,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TGT. Kozak & Associates Inc. boosted its stake in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new stake in shares of Target during the 2nd quarter valued at about $29,000. WPG Advisers LLC bought a new stake in shares of Target during the 1st quarter valued at about $32,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Target during the 2nd quarter valued at about $31,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.8%

Shares of NYSE TGT opened at $90.79 on Friday. 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 stock has a market cap of $41.25 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The firm has a 50-day moving average of $93.07 and a 200 day moving average of $96.42.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 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 .9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research reports. Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Truist Financial cut their target price on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Evercore ISI cut their target price on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research note on Tuesday. Bank of America reissued an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. Finally, Jefferies Financial Group lowered their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $109.00.

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.