Bennett Associates Wealth Management Purchases Shares of 3,445 Target Corporation $TGT

Key Points

• Bennett Associates Wealth Management purchased 3,445 shares of Target Corporation, valued at approximately $340,000, during the second quarter.
• Target announced an increased quarterly dividend of $1.14, set to be paid on December 1st, representing a 5.1% yield and an annualized $4.56.
• Target's second-quarter earnings report showed an EPS of $2.05, slightly beating estimates, although revenue decreased by 0.9% year-over-year.

Bennett Associates Wealth Management acquired a new stake in Target Corporation (NYSE:TGT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,445 shares of the retailer's stock, valued at approximately $340,000.

Other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its stake in Target by 291.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 78,205 shares of the retailer's stock valued at $7,715,000 after buying an additional 58,225 shares during the last quarter. Joule Financial LLC bought a new stake in shares of Target during the second quarter worth approximately $222,000. Global Assets Advisory LLC bought a new stake in shares of Target during the second quarter worth approximately $31,000. Beacon Financial Advisory LLC grew its position in shares of Target by 5.8% in the second quarter. Beacon Financial Advisory LLC now owns 5,916 shares of the retailer's stock valued at $584,000 after purchasing an additional 325 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Target during the second quarter worth approximately $577,000. 79.73% of the stock is owned by institutional investors.

Target Trading Down 0.0%

Shares of Target stock opened at $89.00 on Tuesday. 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 Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a market capitalization of $40.44 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.58 and a beta of 1.18. The firm's 50-day moving average price is $95.54 and its two-hundred day moving average price is $97.32.

Target (NYSE:TGT - Get Free Report) last issued its 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. The company had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is 53.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TGT shares. Barclays reaffirmed an "underweight" rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Telsey Advisory Group restated a "market perform" rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Jefferies Financial Group cut their price objective on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus price target of $109.71.

About Target

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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