Guggenheim Capital LLC Has $17.32 Million Stock Position in Target Corporation $TGT

Key Points

• Guggenheim Capital LLC reduced its position in Target Corporation by 4.8% in Q1, now holding 165,920 shares valued at approximately $17.31 million.
• Several institutional investors increased their stakes in Target significantly, with Charles Schwab increasing its position by 407.8%, now owning over 15.9 million shares valued at $1.67 billion.
• Target Corporation announced a quarterly dividend of $1.12 per share, representing a 4.6% yield, with an upcoming payment on September 1st.

Guggenheim Capital LLC reduced its holdings in Target Corporation (NYSE:TGT - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 165,920 shares of the retailer's stock after selling 8,292 shares during the quarter. Guggenheim Capital LLC's holdings in Target were worth $17,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. increased its position 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 valued at $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. Pacer Advisors Inc. increased its position in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after acquiring an additional 3,065,035 shares during the period. Nuveen LLC acquired a new position in Target in the 1st quarter valued at approximately $186,361,000. Ameriprise Financial Inc. increased its position in Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after acquiring an additional 1,506,275 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after acquiring an additional 1,406,653 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on TGT. Robert W. Baird set a $100.00 price target on shares of Target in a research report on Thursday, May 22nd. Truist Financial upped their price objective on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Wedbush reaffirmed an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Target in a research note on Thursday, August 21st. Finally, BMO Capital Markets reduced their price objective on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Ten investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $113.74.

Target Stock Up 1.9%

Shares of NYSE TGT opened at $97.89 on Thursday. The firm has a market cap of $44.48 billion, a PE ratio of 11.41, a P/E/G ratio of 2.77 and a beta of 1.22. Target Corporation has a 12-month low of $87.35 and a 12-month high of $161.50. The company's fifty day simple moving average is $102.13 and its 200 day simple moving average is $103.09. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (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 analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced 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 4.6%. Target's dividend payout ratio is currently 53.15%.

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.

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