Moran Wealth Management LLC Sells 42,085 Shares of Target Corporation $TGT

Key Points

• Moran Wealth Management LLC has reduced its stake in Target Corporation by 72.7%, selling 42,085 shares and leaving them with 15,787 shares valued at approximately $1.56 million.
• Target has announced a quarterly dividend increase to $1.14 per share, up from $1.12, with a dividend yield of 5.0% and a payout ratio of 53.15%.
• Despite a decline in year-over-year revenue of 0.9%, Target reported earnings of $2.05 per share, beating estimates, and has set a fiscal year 2025 EPS guidance range of $7.00 to $9.00.

Moran Wealth Management LLC lessened its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 72.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,787 shares of the retailer's stock after selling 42,085 shares during the period. Moran Wealth Management LLC's holdings in Target were worth $1,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JNBA Financial Advisors grew its holdings in shares of Target by 3.0% in the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer's stock worth $330,000 after purchasing an additional 96 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after buying an additional 102 shares during the period. Guardian Wealth Advisors LLC grew its holdings in Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock worth $422,000 after acquiring an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer's stock worth $126,000 after acquiring an additional 106 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in shares of Target by 21.4% in the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer's stock valued at $63,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Up 2.2%

Shares of NYSE:TGT opened at $90.96 on Thursday. The stock has a fifty day simple moving average of $93.67 and a two-hundred day simple moving average of $96.61. 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 stock has a market capitalization of $41.33 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.59 and a beta of 1.18. Target Corporation has a 12-month low of $85.36 and a 12-month high of $160.79.

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, beating 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 company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the firm posted $2.57 EPS. Target's revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm 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 dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. Target's dividend payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TGT shares. Loop Capital set a $95.00 price target on Target in a research report on Thursday, July 17th. Evercore ISI decreased their target price on Target from $103.00 to $100.00 and set an "in-line" rating for the company in a report on Tuesday. Bank of America reiterated an "underperform" rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Target in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.00.

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.

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.