Kestra Advisory Services LLC Sells 10,110 Shares of Target Corporation $TGT

Key Points

• Kestra Advisory Services LLC reduced its holdings in Target Corporation by 11.9%, selling 10,110 shares and leaving it with 74,538 shares valued at approximately $7.78 million.
• Target reported a quarterly earnings per share (EPS) of $2.05, slightly surpassing analyst expectations, with revenue of $24.99 billion, down 0.9% year-over-year.
• The company declared a quarterly dividend of $1.12, effective September 1st, representing an annualized yield of 4.5% with a payout ratio of 53.15%.

Kestra Advisory Services LLC lessened its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,538 shares of the retailer's stock after selling 10,110 shares during the period. Kestra Advisory Services LLC's holdings in Target were worth $7,779,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new position in Target during the fourth quarter worth $29,000. Heck Capital Advisors LLC bought a new position in Target during the fourth quarter worth $40,000. Atwood & Palmer Inc. raised its stake in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares during the last quarter. Abound Financial LLC bought a new position in Target during the first quarter worth $43,000. Finally, Bellwether Advisors LLC bought a new position in Target during the fourth quarter worth $47,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TGT shares. Wall Street Zen raised shares of Target from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Truist Financial lifted their price target 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. Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Morgan Stanley decreased their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $113.74.

Target Stock Down 1.1%

Shares of NYSE TGT traded down $1.10 during mid-day trading on Thursday, reaching $96.86. 5,140,114 shares of the company's stock traded hands, compared to its average volume of 7,131,999. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.50. The stock has a market cap of $44.01 billion, a P/E ratio of 11.29, a PEG ratio of 2.77 and a beta of 1.22. The business has a 50-day simple moving average of $102.13 and a 200 day simple moving average of $103.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the previous year, the company earned $2.57 earnings per share. The firm'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. On average, analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) 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.