Target Corporation $TGT Shares Acquired by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners LLC significantly increased its stake in Target Corporation by 1,298.4%, owning 68,871 shares valued at approximately $6.79 million as of the latest SEC disclosure.
• Target recently reported Q2 earnings of $2.05 EPS, exceeding estimates, with revenues of $24.99 billion, while also announcing a quarterly dividend increase to $1.14 per share.
• Institutional investors currently hold 79.73% of Target's stock, and analysts have mixed ratings on the company with a consensus rating of "Hold" and a price target averaging $109.65.

Cyndeo Wealth Partners LLC increased its position in Target Corporation (NYSE:TGT - Free Report) by 1,298.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,871 shares of the retailer's stock after purchasing an additional 63,946 shares during the period. Cyndeo Wealth Partners LLC's holdings in Target were worth $6,794,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Target in the second quarter valued at approximately $595,839,000. Goldman Sachs Group Inc. boosted its stake in 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 acquiring an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 acquiring an additional 229,670 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler restated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Guggenheim restated a "buy" rating and issued a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Weiss Ratings restated a "hold (c-)" rating on shares of Target in a research note on Wednesday. Bank of America restated an "underperform" rating and issued a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Citigroup lifted their price target on Target from $94.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.65.

Target Price Performance

Shares of NYSE:TGT opened at $89.12 on Friday. Target Corporation has a 12 month low of $86.30 and a 12 month high of $161.50. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 2.62 and a beta of 1.18. The stock's 50 day moving average price is $94.76 and its 200 day moving average price is $97.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. The firm'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. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share 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 issued a dividend of $1.14 per share. 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. This represents a $4.56 annualized dividend and a yield of 5.1%. Target's dividend payout ratio is presently 53.15%.

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.

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