Atlantic Edge Private Wealth Management LLC Sells 8,197 Shares of Target Corporation $TGT

Key Points

• Atlantic Edge Private Wealth Management LLC has reduced its holdings in Target Corporation by 58.0%, now owning 5,945 shares worth $586,000 after selling 8,197 shares.
• Target's recent earnings report showed a slight decline in revenue year-over-year, with earnings per share slightly exceeding analyst expectations at $2.05.
• The company declared a quarterly dividend of **$1.14** per share, with an increase from the previous dividend and a yield of **5.0%**.

Atlantic Edge Private Wealth Management LLC reduced its position in Target Corporation (NYSE:TGT - Free Report) by 58.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,945 shares of the retailer's stock after selling 8,197 shares during the quarter. Atlantic Edge Private Wealth Management LLC's holdings in Target were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TGT. Charles Schwab Investment Management Inc. raised its holdings in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Target in the second quarter valued at about $595,839,000. Pacer Advisors Inc. raised its holdings in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. Nuveen LLC bought a new stake in shares of Target in the first quarter valued at about $186,361,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. DA Davidson decreased their price objective on Target from $115.00 to $108.00 and set a "buy" rating for the company in a report on Monday, October 13th. Jefferies Financial Group decreased their price objective on Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Truist Financial cut their target price on Target from $102.00 to $83.00 and set a "hold" rating on the stock in a research note on Thursday, October 2nd. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Finally, Bank of America reiterated an "underperform" rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $109.00.

Target Price Performance

Shares of TGT stock opened at $91.61 on Tuesday. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The firm has a market capitalization of $41.63 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.64 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. The stock's 50-day simple moving average is $92.82 and its 200-day simple moving average is $96.34.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The company's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. Target's payout ratio is presently 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.

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