Simplicity Wealth LLC Takes $577,000 Position in Target Corporation $TGT

Simplicity Wealth LLC purchased a new stake in shares of Target Corporation (NYSE:TGT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,852 shares of the retailer's stock, valued at approximately $577,000.

Other large investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. lifted its position in Target by 63.4% in the second 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 last quarter. Kozak & Associates Inc. lifted its position in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after buying an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in Target in the second quarter valued at about $29,000. WPG Advisers LLC acquired a new position in Target in the first quarter valued at about $32,000. Finally, 1248 Management LLC acquired a new position in Target in the first quarter valued at about $38,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TGT. Citigroup upped their target price on shares of Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Barclays reiterated an "underweight" rating and set a $91.00 price target on shares of Target in a research note on Monday, July 21st. Truist Financial cut their price target on shares of Target from $102.00 to $83.00 and set a "hold" rating on the stock in a research note on Thursday, October 2nd. Finally, Wolfe Research initiated coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $109.65.

Target Stock Up 0.4%

TGT stock opened at $89.36 on Wednesday. The company's 50 day moving average price is $95.25 and its 200 day moving average price is $97.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. 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 $40.60 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 2.57 and a beta of 1.18.

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 net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. The business's quarterly 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, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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

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.

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