Target Corporation $TGT Position Reduced by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its position in shares of Target Corporation (NYSE:TGT) by 29.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,172 shares of the retailer’s stock after selling 1,755 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Target were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. JNBA Financial Advisors lifted its stake in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after buying an additional 96 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares in the last quarter. Guardian Wealth Advisors LLC lifted its stake in Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after buying an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after buying an additional 106 shares in the last quarter. Finally, Truvestments Capital LLC lifted its stake in Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after buying an additional 107 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 0.4%

NYSE:TGT opened at $94.04 on Thursday. The stock’s 50 day moving average price is $92.36 and its 200 day moving average price is $96.31. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The company has a market capitalization of $42.73 billion, a P/E ratio of 10.96, a P/E/G ratio of 2.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.57 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 4.8%. 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 is 53.15%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America reissued an “underperform” rating and issued a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Target in a research report on Wednesday, August 20th. Finally, Piper Sandler reissued a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target 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.