Triangle Securities Wealth Management Sells 2,882 Shares of Target Corporation $TGT

Key Points

• Triangle Securities Wealth Management reduced its position in Target Corporation by 48.1% in the second quarter, selling 2,882 shares and now holds 3,107 shares worth approximately $307,000.
• Target reported a net margin of 3.72% and earnings per share of $2.05, slightly beating analyst estimates, although its revenue decreased 0.9% year-over-year.
• The company announced an increase in its quarterly dividend to $1.14 per share, set to be paid on December 1st, resulting in a yearly payout of $4.56 and a dividend yield of 5.2%.

Triangle Securities Wealth Management cut its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 48.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,107 shares of the retailer's stock after selling 2,882 shares during the period. Triangle Securities Wealth Management's holdings in Target were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth approximately $29,000. Kozak & Associates Inc. increased its position in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after purchasing an additional 253 shares during the period. Heck Capital Advisors LLC acquired a new position in Target during the 4th quarter worth approximately $40,000. WPG Advisers LLC acquired a new position in Target during the 1st quarter worth approximately $32,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Target in the 4th quarter worth approximately $49,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TGT shares. Wedbush restated an "outperform" rating on shares of Target in a report on Thursday, July 17th. Barclays reiterated an "underweight" rating and set a $91.00 target price on shares of Target in a report on Monday, July 21st. Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Wall Street Zen upgraded Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Royal Bank Of Canada increased their price target on Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $112.69.

Target Price Performance

Shares of NYSE TGT traded down $1.36 during trading on Monday, hitting $86.77. The company had a trading volume of 8,458,292 shares, compared to its average volume of 7,228,718. Target Corporation has a 52 week low of $86.30 and a 52 week high of $161.50. 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 company has a market cap of $39.43 billion, a P/E ratio of 10.11, a PEG ratio of 2.54 and a beta of 1.16. The business's 50-day moving average is $99.10 and its 200 day moving average is $98.78.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts predict 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. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) 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.