Kingswood Wealth Advisors LLC Has $1.30 Million Position in Target Corporation $TGT

Key Points

• Kingswood Wealth Advisors LLC increased its stake in Target Corporation by 31.2% during the second quarter, holding 13,172 shares valued at approximately $1.3 million.
• Target reported earnings of $2.05 per share, exceeding analysts' expectations, but its quarterly revenue fell 0.9% from the previous year.
• The company will pay an increased quarterly dividend of $1.14 per share, with a dividend yield of 5.1%, representing a payout ratio of 53.15%.

Kingswood Wealth Advisors LLC increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 31.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,172 shares of the retailer's stock after purchasing an additional 3,130 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Target were worth $1,299,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Target in the second quarter valued at approximately $595,839,000. Goldman Sachs Group Inc. raised its position in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Target by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock valued at $542,020,000 after purchasing an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Target by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer's stock valued at $420,413,000 after purchasing an additional 229,670 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE TGT opened at $89.36 on Wednesday. The firm has a market capitalization of $40.60 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The stock's 50-day simple moving average is $95.25 and its two-hundred day simple moving average is $97.27. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 23.43% and a net margin of 3.72%.The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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

Analysts Set New Price Targets

TGT has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Target from $105.00 to $103.00 and set an "in-line" rating on the stock in a research report on Tuesday. Jefferies Financial Group dropped their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Royal Bank Of Canada boosted their target price on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Bank of America reaffirmed an "underperform" rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Finally, Citigroup boosted their target price on shares of Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Nine investment analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $109.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.