Target Corporation $TGT Position Increased by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Target Corporation by 67.1%, owning a total of 132,598 shares valued at approximately $13.84 million.
• Target reported earnings of $1.30 per share in its latest quarter, missing estimates by $0.35, with a revenue decline of 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, representing a 4.3% yield and a payout ratio of 50.11%.

Kovitz Investment Group Partners LLC boosted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 67.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,598 shares of the retailer's stock after purchasing an additional 53,238 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Target were worth $13,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bontempo Ohly Capital Mgmt LLC lifted its position in shares of Target by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock valued at $3,875,000 after acquiring an additional 85 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Target by 0.9% in the fourth quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock valued at $1,402,000 after acquiring an additional 92 shares in the last quarter. Hayek Kallen Investment Management lifted its position in shares of Target by 0.7% in the fourth quarter. Hayek Kallen Investment Management now owns 13,278 shares of the retailer's stock valued at $1,795,000 after acquiring an additional 98 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Target by 2.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer's stock valued at $514,000 after acquiring an additional 99 shares in the last quarter. Finally, Guardian Wealth Advisors LLC lifted its position in shares of Target by 2.6% in the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after acquiring an additional 104 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 0.3%

TGT traded up $0.3410 on Tuesday, reaching $105.2910. The company's stock had a trading volume of 5,301,669 shares, compared to its average volume of 6,891,161. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The business's 50 day moving average is $101.92 and its 200 day moving average is $104.39.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The business had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the prior year, the company posted $2.03 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is currently 50.11%.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TGT has been the subject of several analyst reports. Wedbush reiterated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Guggenheim dropped their target price on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. DA Davidson dropped their target price on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their target price on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, BMO Capital Markets dropped their target price on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $115.42.

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.