Castle Rock Wealth Management LLC Invests $334,000 in Target Corporation $TGT

Key Points

• Castle Rock Wealth Management LLC has invested $334,000 in Target Corporation, acquiring 3,252 shares during the second quarter.
• Target reported $2.05 earnings per share for its latest quarter, surpassing analysts' expectations, despite a revenue decline of 0.9% year-over-year.
• The company announced an increase in its quarterly dividend to $1.14 per share, with a dividend yield of 5.0% and an upcoming payment date of December 1st.

Castle Rock Wealth Management LLC bought a new position in Target Corporation (NYSE:TGT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,252 shares of the retailer's stock, valued at approximately $334,000.

A number of other large investors also recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. raised its holdings 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 during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the second quarter valued at approximately $595,839,000. Pacer Advisors Inc. increased 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 purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Target in the first quarter valued at approximately $186,361,000. Finally, Goldman Sachs Group Inc. increased 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 purchasing an additional 1,406,653 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

Shares of TGT opened at $90.35 on Thursday. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The stock's 50 day moving average is $94.99 and its two-hundred day moving average is $97.22. The firm has a market capitalization of $41.06 billion, a PE ratio of 10.53, a P/E/G ratio of 2.58 and a beta of 1.18. 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 announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company 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. This is a positive change 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 annualized dividend and a dividend yield of 5.0%. Target's dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TGT shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Target in a research note on Wednesday. UBS Group decreased their target price on Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Wolfe Research assumed coverage on Target in a report on Thursday, September 18th. They issued an "underperform" rating and a $80.00 target price for the company. Wedbush restated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Finally, Jefferies Financial Group cut their price target on Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.65.

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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