Target Corporation $TGT Shares Sold by JLB & Associates Inc.

Key Points

• JLB & Associates Inc. reduced its stake in Target Corporation by 53.9%, holding now 4,906 shares worth approximately $484,000 after selling 5,728 shares.
• Despite a decline in revenue of 0.9% year-over-year, Target reported $2.05 earnings per share for the last quarter, slightly beating analyst expectations.
• Target announced a quarterly dividend of $1.14 per share, reflecting a yield of 5.1%, up from the previous dividend of $1.12.

JLB & Associates Inc. trimmed its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 53.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,906 shares of the retailer's stock after selling 5,728 shares during the period. JLB & Associates Inc.'s holdings in Target were worth $484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Target during the 2nd quarter worth approximately $595,839,000. Pacer Advisors Inc. raised its stake in shares of Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after acquiring an additional 3,065,035 shares during the period. Nuveen LLC acquired a new position in shares of Target during the first quarter worth about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its position in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

NYSE TGT opened at $88.75 on Tuesday. The stock has a market capitalization of $40.33 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.53 and a beta of 1.16. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a 50 day moving average price of $97.27 and a two-hundred day moving average price of $97.86. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the company earned $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. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

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

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Royal Bank Of Canada lifted their price target on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Telsey Advisory Group restated a "market perform" rating and set a $110.00 price objective on shares of Target in a research note on Wednesday, August 20th. Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Finally, UBS Group decreased their target price on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $110.48.

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

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.