3,279 Shares in Target Corporation $TGT Purchased by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC acquired 3,279 shares of Target Corporation, representing a new investment valued at approximately $324,000.
• Target recently reported earnings of $2.05 EPS, exceeding the analyst consensus of $2.04, while quarterly revenue was $24.99 billion, slightly above estimates.
• The company announced a quarterly dividend increase to $1.14 per share, reflecting an annualized payout of $4.56 and a yield of 5.1%.

GC Wealth Management RIA LLC purchased a new position in Target Corporation (NYSE:TGT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,279 shares of the retailer's stock, valued at approximately $324,000.

Other hedge funds also recently bought and sold shares of the company. Kozak & Associates Inc. lifted its stake in 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 acquiring an additional 253 shares during the period. Investment Research & Advisory Group Inc. bought a new position in Target during the 2nd quarter valued at about $29,000. WPG Advisers LLC bought a new position in Target during the 1st quarter valued at about $32,000. 1248 Management LLC bought a new position in Target during the 1st quarter valued at about $38,000. Finally, Atwood & Palmer Inc. lifted its stake in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares during the period. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Piper Sandler restated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Truist Financial upped their price target on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Finally, Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Nine research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $110.48.

Target Trading Down 0.6%

Target stock opened at $89.20 on Thursday. The firm has a 50 day moving average of $96.56 and a 200 day moving average of $97.74. The firm has a market capitalization of $40.53 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 2.59 and a beta of 1.18. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released 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 company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts predict 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. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a positive change from Target's previous quarterly dividend of $1.12. Target's payout ratio is currently 53.15%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.