Ellsworth Advisors LLC Increases Stock Position in Target Corporation $TGT

Key Points

• Ellsworth Advisors LLC increased its holdings in Target Corporation by 8.0%, acquiring an additional 2,883 shares, bringing its total to 38,828 shares valued at approximately $4.05 million.
• Target Corporation reported quarterly earnings of $2.05 per share, surpassing expectations, with revenues reaching $24.99 billion despite a 0.9% year-over-year decline.
• Analysts have mixed ratings for Target, with a consensus rating of "Hold" and a target price averaging $113.74, reflecting cautious optimism about the company's performance.

Ellsworth Advisors LLC boosted its position in Target Corporation (NYSE:TGT - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,828 shares of the retailer's stock after acquiring an additional 2,883 shares during the quarter. Ellsworth Advisors LLC's holdings in Target were worth $4,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Target during the fourth quarter valued at about $29,000. WPG Advisers LLC purchased a new stake in Target in the first quarter worth about $32,000. 1248 Management LLC purchased a new stake in Target in the first quarter worth about $38,000. Heck Capital Advisors LLC purchased a new stake in Target in the fourth quarter worth about $40,000. Finally, Atwood & Palmer Inc. lifted its holdings in Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares during the period. Institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGT. Truist Financial raised their price objective on shares of Target from $90.00 to $107.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. Royal Bank Of Canada lifted their target price on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. The Goldman Sachs Group lowered their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Mizuho decreased their price objective on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, Loop Capital set a $95.00 target price on shares of Target in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Target currently has a consensus rating of "Hold" and a consensus price target of $113.74.

Target Price Performance

Shares of TGT traded down $1.49 during trading hours on Friday, reaching $90.03. 6,162,341 shares of the stock traded hands, compared to its average volume of 8,782,737. 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 Corporation has a 52-week low of $87.35 and a 52-week high of $161.50. The company's 50-day moving average price is $100.52 and its two-hundred day moving average price is $99.98. The company has a market cap of $40.91 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last announced 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 for 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 quarterly revenue 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. On average, analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

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.