Target Corporation $TGT Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its stake in Target Corporation by 19.8%, selling 21,833 shares and now holding 88,538 shares worth approximately $9.24 million.
• In the first quarter, multiple institutional investors increased their holdings in Target, with Charles Schwab Investment Management boosting its stake by 407.8%.
• Target reported $2.05 EPS for the quarter, surpassing estimates, and had a quarterly revenue of $24.99 billion, although this represented a year-over-year decline of 0.9%.

Curi RMB Capital LLC reduced its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 19.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 88,538 shares of the retailer's stock after selling 21,833 shares during the period. Curi RMB Capital LLC's holdings in Target were worth $9,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in shares of Target in the 4th quarter valued at $40,000. WPG Advisers LLC purchased a new position in shares of Target in the 1st quarter valued at $32,000. Mascagni Wealth Management Inc. purchased a new position in shares of Target in the 4th quarter valued at $49,000. Finally, 1248 Management LLC purchased a new position in shares of Target in the 1st quarter valued at $38,000. 79.73% of the stock is owned by institutional investors.

Target Price Performance

Shares of TGT stock traded up $0.43 during trading hours on Friday, reaching $93.14. The company had a trading volume of 4,890,485 shares, compared to its average volume of 8,377,683. 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 has a fifty day moving average of $101.75 and a 200-day moving average of $101.19. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 2.69 and a beta of 1.16. Target Corporation has a 12-month low of $87.35 and a 12-month high of $161.50.

Target (NYSE:TGT - Get Free Report) last released its quarterly 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. The business had revenue of $24.99 billion during 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 company's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 53.15%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Barclays restated an "underweight" rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Telsey Advisory Group reiterated a "market perform" rating and set a $110.00 price target on shares of Target in a research report on Wednesday, August 20th. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and lowered their price target for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $113.74.

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.