Peddock Capital Advisors LLC Decreases Stock Holdings in Target Corporation $TGT

Key Points

• Peddock Capital Advisors LLC has reduced its stake in Target Corporation by 25.6%, now holding 12,182 shares valued at approximately $1.2 million.
• The company recently announced a quarterly dividend of $1.14 per share, reflecting a 5.2% dividend yield, with an increase from the previous dividend of $1.12.
• Target's latest earnings report showed an EPS of $2.05, slightly above analysts' expectations, with revenue dropping .9% year-over-year.

Peddock Capital Advisors LLC lowered its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 25.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,182 shares of the retailer's stock after selling 4,188 shares during the quarter. Peddock Capital Advisors LLC's holdings in Target were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alhambra Investment Management LLC increased its position in shares of Target by 39.8% during the 2nd quarter. Alhambra Investment Management LLC now owns 4,184 shares of the retailer's stock valued at $413,000 after purchasing an additional 1,192 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Target by 35.5% during the 2nd quarter. Ballentine Partners LLC now owns 11,667 shares of the retailer's stock valued at $1,151,000 after acquiring an additional 3,056 shares during the period. Kagan Cocozza Asset Management grew its stake in shares of Target by 24.1% during the 2nd quarter. Kagan Cocozza Asset Management now owns 6,957 shares of the retailer's stock valued at $686,000 after acquiring an additional 1,349 shares during the period. Accurate Wealth Management LLC grew its stake in shares of Target by 6.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 2,965 shares of the retailer's stock valued at $311,000 after acquiring an additional 182 shares during the period. Finally, Waycross Partners LLC grew its stake in shares of Target by 3.0% during the 2nd quarter. Waycross Partners LLC now owns 172,557 shares of the retailer's stock valued at $17,023,000 after acquiring an additional 4,965 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Performance

NYSE:TGT opened at $87.02 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock's fifty day moving average is $98.43 and its 200 day moving average is $98.51. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50. The firm has a market capitalization of $39.54 billion, a PE ratio of 10.14, a PEG ratio of 2.50 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last released 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. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The business's revenue 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, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently declared 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 represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. 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. Target's dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent analyst reports. Truist Financial upped their price target on Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Target from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Wedbush reiterated an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Evercore ISI lowered their target price on Target from $106.00 to $105.00 and set an "in-line" rating for the company in a research report on Tuesday. Finally, UBS Group lowered their target price on Target from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Nine 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.48.

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.

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