Janney Montgomery Scott LLC Sells 33,154 Shares of Target Corporation $TGT

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Target Corporation by 9.6%, selling 33,154 shares, and now owns approximately 0.07% of Target stock worth about $30.8 million.
• Target's recent quarterly earnings report showed earnings per share of $2.05, surpassing analysts' expectations, although revenue fell by 0.9% compared to the previous year.
• The company also announced an increase in its quarterly dividend to $1.14 per share, resulting in an annualized yield of 5.1%.

Janney Montgomery Scott LLC trimmed its holdings in Target Corporation (NYSE:TGT - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,543 shares of the retailer's stock after selling 33,154 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Target worth $30,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TGT. Kozak & Associates Inc. grew its position in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target during the 2nd quarter valued at about $29,000. WPG Advisers LLC purchased a new stake in Target during the 1st quarter valued at about $32,000. 1248 Management LLC purchased a new stake in Target during the 1st quarter valued at about $38,000. Finally, Atwood & Palmer Inc. grew its position in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after purchasing an additional 352 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

TGT opened at $89.20 on Thursday. 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 company has a market cap of $40.53 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.59 and a beta of 1.18. The company's 50 day moving average is $96.56 and its 200 day moving average is $97.74. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50.

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. The company had revenue of $24.99 billion for 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%. The firm's revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on TGT. Wolfe Research began coverage on shares of Target in a research report on Thursday, September 18th. They set an "underperform" rating and a $80.00 price objective on the stock. Bank of America reissued an "underperform" rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Wedbush reaffirmed an "outperform" rating on shares of Target in a report on Thursday, July 17th. Truist Financial raised their price target on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $110.48.

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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