Forvis Mazars Wealth Advisors LLC Has $3.34 Million Position in Target Corporation $TGT

Key Points

• Forvis Mazars Wealth Advisors LLC increased its holdings in Target Corporation by 14.4%, owning 32,003 shares valued at $3.34 million at the end of the first quarter.
• Institutional investors now own 79.73% of Target's stock, with several firms acquiring new stakes or considerably boosting existing ones during the last quarter.
• Target recently missed earnings expectations, reporting $1.30 earnings per share against a consensus of $1.65, with revenue down 2.8% year-over-year at $24.20 billion.

Forvis Mazars Wealth Advisors LLC boosted its holdings in Target Corporation (NYSE:TGT - Free Report) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,003 shares of the retailer's stock after acquiring an additional 4,026 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Target were worth $3,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter valued at approximately $29,000. Heck Capital Advisors LLC bought a new position in shares of Target during the 4th quarter worth approximately $40,000. Atwood & Palmer Inc. boosted its stake in Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after buying an additional 352 shares in the last quarter. Abound Financial LLC bought a new stake in Target in the first quarter valued at $43,000. Finally, Bellwether Advisors LLC bought a new stake in Target in the fourth quarter valued at $47,000. Institutional investors own 79.73% of the company's stock.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $110.00 price objective on shares of Target in a report on Wednesday. Wedbush reissued an "outperform" rating on shares of Target in a report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Jefferies Financial Group reduced their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Ten investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Target currently has an average rating of "Hold" and a consensus price target of $114.29.

Target Trading Down 6.3%

Shares of NYSE:TGT traded down $6.6230 during trading on Wednesday, hitting $98.7370. 33,131,731 shares of the company's stock were exchanged, compared to its average volume of 7,081,358. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The firm has a market cap of $44.86 billion, a P/E ratio of 10.85, a PEG ratio of 3.03 and a beta of 1.22. The firm has a 50-day moving average price of $102.02 and a two-hundred day moving average price of $104.40. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period last year, the firm earned $2.57 earnings per share. The business'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. Equities analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.5%. Target's dividend payout ratio (DPR) is presently 50.11%.

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.