CMG Global Holdings LLC Sells 442 Shares of Target Corporation $TGT

CMG Global Holdings LLC trimmed its stake in Target Corporation (NYSE:TGT) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,485 shares of the retailer’s stock after selling 442 shares during the period. CMG Global Holdings LLC’s holdings in Target were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. FLC Capital Advisors bought a new stake in shares of Target during the second quarter valued at approximately $759,000. LMG Wealth Partners LLC increased its holdings in Target by 26.5% during the 2nd quarter. LMG Wealth Partners LLC now owns 13,884 shares of the retailer’s stock worth $1,370,000 after purchasing an additional 2,912 shares during the period. Balboa Wealth Partners raised its position in Target by 23.9% during the 2nd quarter. Balboa Wealth Partners now owns 3,779 shares of the retailer’s stock valued at $373,000 after purchasing an additional 729 shares in the last quarter. West Tower Group LLC purchased a new stake in shares of Target in the 2nd quarter worth $395,000. Finally, Community Bank of Raymore grew its position in shares of Target by 58.0% during the 2nd quarter. Community Bank of Raymore now owns 8,310 shares of the retailer’s stock worth $820,000 after buying an additional 3,050 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Loop Capital set a $95.00 price objective on shares of Target in a research note on Thursday, July 17th. DA Davidson cut their price objective on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Evercore ISI lowered their target price on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a report on Tuesday, October 14th. Nine analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.00.

Target Price Performance

Shares of TGT opened at $90.79 on Monday. The company has a 50 day moving average of $93.07 and a two-hundred day moving average of $96.37. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a twelve month low of $85.36 and a twelve month high of $158.42. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS 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 analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts predict 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. 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 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend 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.