Target Corporation $TGT Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Target Corporation by 10.7%, selling 17,054 shares during the second quarter, leaving them with a total of 142,533 shares worth $14,832,000.
• Target recently declared a quarterly dividend of $1.14 per share, an increase from its previous dividend, representing a dividend yield of 5.2%.
• Despite beating earnings expectations with $2.05 per share and a revenue of $24.99 billion, Target's revenue was down 0.9% compared to the same quarter last year.

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,533 shares of the retailer's stock after selling 17,054 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Target were worth $14,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Centaurus Financial Inc. grew its holdings in Target by 2.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer's stock valued at $514,000 after purchasing an additional 99 shares during the last quarter. Guardian Wealth Advisors LLC lifted its position in shares of Target by 2.6% in the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after acquiring an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer's stock worth $126,000 after buying an additional 106 shares during the period. Truvestments Capital LLC lifted its position in Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer's stock worth $63,000 after buying an additional 107 shares during the period. Finally, Formidable Asset Management LLC lifted its position in Target by 1.2% during the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer's stock worth $1,012,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Performance

Shares of NYSE TGT traded down $1.47 during mid-day trading on Monday, hitting $86.66. The company had a trading volume of 12,431,248 shares, compared to its average volume of 7,455,542. The stock has a market cap of $39.38 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.54 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 debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm's 50 day simple moving average is $99.10 and its two-hundred day simple moving average is $98.78.

Target (NYSE:TGT - Get Free Report) last announced 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. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several research firms recently weighed in on TGT. Citigroup increased their target price on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Piper Sandler reiterated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Bank of America reiterated an "underperform" rating and set a $93.00 target price (down from $105.00) on shares of Target in a research report on Friday, August 15th. Evercore ISI cut their price objective on Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, August 21st. Finally, Truist Financial increased their target price on Target from $90.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus price target of $112.69.

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.