Evergreen Private Wealth LLC Acquires 29,442 Shares of Target Corporation $TGT

Key Points

• Evergreen Private Wealth LLC increased its holdings in Target Corporation by over 2,000%, acquiring an additional 29,442 shares, bringing its total ownership to 30,850 shares valued at approximately $3.04 million.
• Target Corporation reported earnings per share of $2.05 in its latest quarterly results, exceeding analysts’ expectations of $2.04, while revenue for the quarter reached $24.99 billion.
• The company announced a quarterly dividend increase to $1.14 per share, reflecting a 5.2% yield, with the payment scheduled for December 1st, 2023.

Evergreen Private Wealth LLC boosted its holdings in Target Corporation (NYSE:TGT - Free Report) by 2,091.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,850 shares of the retailer's stock after purchasing an additional 29,442 shares during the quarter. Evergreen Private Wealth LLC's holdings in Target were worth $3,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. boosted its position in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer's stock valued at $8,786,000 after buying an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC boosted its position in Target by 16.1% in the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after purchasing an additional 21,726 shares during the last quarter. Viking Fund Management LLC boosted its position in Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after purchasing an additional 10,000 shares during the last quarter. Correct Capital Wealth Management boosted its position in Target by 44.7% in the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after purchasing an additional 4,189 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in Target in the first quarter worth $4,623,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Wedbush reissued an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Evercore ISI lowered their target price on Target from $106.00 to $105.00 and set an "in-line" rating on the stock in a research note on Tuesday. Barclays restated an "underweight" rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Guggenheim restated a "buy" rating and issued a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $110.48.

Target Price Performance

TGT opened at $87.16 on Friday. The stock has a 50-day moving average price of $97.83 and a 200-day moving average price of $98.25. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $39.60 billion, a P/E ratio of 10.16, a PEG ratio of 2.55 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the prior year, the business earned $2.57 EPS. The company's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts predict 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. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.2%. This is a boost from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is currently 53.15%.

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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