HB Wealth Management LLC Trims Stake in Target Corporation $TGT

Key Points

• HB Wealth Management LLC reduced its stake in Target Corporation by 40.6% during the second quarter, now holding 51,394 shares worth approximately $5.07 million.
• Target has announced an increase in its quarterly dividend to $1.14, representing an annualized payout of $4.56 and a dividend yield of 5.1%.
• Despite a decrease in year-over-year revenue, Target's quarterly earnings per share of $2.05 beat analysts' expectations, with a full-year EPS guidance set between $7.00 and $9.00.

HB Wealth Management LLC reduced its position in Target Corporation (NYSE:TGT - Free Report) by 40.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,394 shares of the retailer's stock after selling 35,176 shares during the quarter. HB Wealth Management LLC's holdings in Target were worth $5,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Wellington Management Group LLP grew its stake in Target by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer's stock worth $7,622,000 after acquiring an additional 6,253 shares in the last quarter. NBC Securities Inc. grew its stake in Target by 208,850.0% in the 1st quarter. NBC Securities Inc. now owns 4,179 shares of the retailer's stock worth $436,000 after acquiring an additional 4,177 shares in the last quarter. Marquette Asset Management LLC grew its stake in Target by 10.5% in the 1st quarter. Marquette Asset Management LLC now owns 1,457 shares of the retailer's stock worth $152,000 after acquiring an additional 139 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in Target by 25.9% in the 1st quarter. Merit Financial Group LLC now owns 70,740 shares of the retailer's stock worth $7,382,000 after acquiring an additional 14,547 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.1%

Shares of Target stock opened at $89.82 on Wednesday. The company has a market cap of $40.81 billion, a P/E ratio of 10.47, a PEG ratio of 2.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a one year low of $86.30 and a one year high of $161.50. The firm has a fifty day moving average of $96.93 and a two-hundred day moving average of $97.80.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Target's previous quarterly dividend of $1.12. Target's payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TGT. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Wolfe Research began coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 price objective on the stock. Zacks Research upgraded shares of Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Barclays reiterated an "underweight" rating and set a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.48.

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.

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