Robertson Stephens Wealth Management LLC Sells 1,193 Shares of Target Corporation $TGT

Robertson Stephens Wealth Management LLC lowered its position in shares of Target Corporation (NYSE:TGT) by 21.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the retailer’s stock after selling 1,193 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Target were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. lifted its stake in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Target during the second quarter worth about $595,839,000. Pacer Advisors Inc. lifted its stake in Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new stake in Target during the first quarter worth about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its stake in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 3.7%

TGT opened at $85.79 on Friday. The business has a 50 day simple moving average of $94.48 and a two-hundred day simple moving average of $96.89. The firm has a market capitalization of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a one year low of $85.36 and a one year high of $161.50.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business 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%.Target’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a 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 dividend payout ratio is currently 53.15%.

Analyst Ratings Changes

Several brokerages have issued reports on TGT. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Wedbush reissued an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Guggenheim reissued a “buy” rating and issued a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Truist Financial lowered their target price on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Finally, Evercore ISI lowered their target price on Target from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $109.65.

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.