Balboa Wealth Partners Increases Position in Target Corporation $TGT

Balboa Wealth Partners lifted its stake in shares of Target Corporation (NYSE:TGT) by 23.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,779 shares of the retailer’s stock after acquiring an additional 729 shares during the quarter. Balboa Wealth Partners’ holdings in Target were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

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

Target Trading Up 0.8%

NYSE TGT opened at $91.61 on Tuesday. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The company has a 50-day simple moving average of $92.82 and a 200-day simple moving average of $96.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The firm has a market capitalization of $41.63 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly 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 net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the business posted $2.57 EPS. The company’s quarterly 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, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current 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 paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. 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 (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TGT. Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. BTIG Research began coverage on shares of Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Wedbush reissued an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Finally, Barclays reissued an “underweight” rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $109.00.

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.