Capital Investment Advisors LLC Lowers Position in Target Corporation $TGT

Key Points

• Capital Investment Advisors LLC has reduced its stake in Target Corporation by 8.3%, now holding 33,647 shares valued at approximately $3.32 million.
• Despite some hedge funds selling their positions, others like Charles Schwab Investment Management have significantly increased their holdings in Target, showcasing varied institutional interest.
• Target plans to increase its quarterly dividend from $1.12 to $1.14, representing a 5.1% dividend yield for shareholders.

Capital Investment Advisors LLC lessened its stake in Target Corporation (NYSE:TGT - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,647 shares of the retailer's stock after selling 3,043 shares during the period. Capital Investment Advisors LLC's holdings in Target were worth $3,319,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Target during the 2nd quarter valued at approximately $595,839,000. Goldman Sachs Group Inc. lifted its position in shares of Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after buying an additional 1,406,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Target by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock valued at $542,020,000 after buying an additional 370,967 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Target by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer's stock valued at $420,413,000 after buying an additional 229,670 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGT. Telsey Advisory Group reiterated a "market perform" rating and set a $110.00 target price on shares of Target in a research report on Wednesday, August 20th. Royal Bank Of Canada increased their target price on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Guggenheim reiterated a "buy" rating and set a $115.00 target price on shares of Target in a research report on Thursday, August 21st. Evercore ISI decreased their target price on Target from $106.00 to $105.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 23rd. Finally, Piper Sandler reiterated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.48.

Target Trading Up 1.1%

Shares of TGT stock opened at $89.82 on Wednesday. The stock's fifty day moving average is $96.93 and its two-hundred day moving average is $97.80. 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 $40.81 billion, a P/E ratio of 10.47, a PEG ratio of 2.56 and a beta of 1.16. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the company earned $2.57 EPS. The company'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. Research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business 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 $1.14 dividend. This is a boost from Target's previous quarterly dividend of $1.12. 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%. Target's dividend payout ratio is 53.15%.

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.

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