Armistice Capital LLC Has $2.06 Million Stake in Target Corporation $TGT

Key Points

• Armistice Capital LLC significantly reduced its stake in Target Corporation by 64.5%, selling 35,790 shares and leaving it with 19,733 shares valued at approximately $2.06 million.
• Target's recent quarterly earnings show a slight growth in earnings per share to $2.05, exceeding analysts' expectations, despite a 0.9% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.12 per share, representing a 4.7% yield, with a payout ratio of 53.15%.

Armistice Capital LLC cut its position in shares of Target Corporation (NYSE:TGT - Free Report) by 64.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,733 shares of the retailer's stock after selling 35,790 shares during the quarter. Armistice Capital LLC's holdings in Target were worth $2,059,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target during the fourth quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Target during the first quarter worth $32,000. Heck Capital Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth $40,000. Atwood & Palmer Inc. increased its position in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares during the period. Finally, Abound Financial LLC acquired a new stake in shares of Target during the first quarter worth $43,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. DA Davidson decreased their price objective on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Evercore ISI decreased their price objective on shares of Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, August 21st. Robert W. Baird set a $100.00 target price on shares of Target in a research note on Thursday, May 22nd. Guggenheim restated a "buy" rating and issued a $115.00 price target on shares of Target in a report on Thursday, August 21st. Finally, Citigroup raised their price target on shares of Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $113.74.

Target Stock Down 0.1%

NYSE:TGT traded down $0.06 during trading hours on Wednesday, reaching $92.38. The company had a trading volume of 8,471,590 shares, compared to its average volume of 7,718,551. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.77 and a beta of 1.16. The business's 50-day simple moving average is $101.97 and its two-hundred day simple moving average is $101.89. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.50. 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 (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. The firm's revenue for the quarter 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 expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.8%. Target's payout ratio is 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.