Target Corporation $TGT Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Target Corporation by 77.4%, selling 43,625 shares and leaving them with 12,759 shares valued at approximately $1.33 million.
• Several institutional investors, including Charles Schwab Investment Management Inc. and Pacer Advisors Inc., significantly increased their stakes in Target, indicating a broader trend of institutional interest in the stock.
• Target recently reported quarterly earnings that slightly surpassed analysts' expectations, with a revenue of $24.99 billion and earnings per share of $2.05, though it marked a year-over-year revenue decline of 0.9%.

Wellington Management Group LLP reduced its holdings in Target Corporation (NYSE:TGT - Free Report) by 77.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,759 shares of the retailer's stock after selling 43,625 shares during the quarter. Wellington Management Group LLP's holdings in Target were worth $1,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Edgar Lomax Co. VA grew its stake in Target by 49.5% during the first quarter. Edgar Lomax Co. VA now owns 528,460 shares of the retailer's stock worth $55,150,000 after buying an additional 174,860 shares in the last quarter. Cladis Investment Advisory LLC boosted its position in Target by 18.7% during the 1st quarter. Cladis Investment Advisory LLC now owns 4,443 shares of the retailer's stock valued at $464,000 after buying an additional 700 shares during the period. Sand Hill Global Advisors LLC grew its stake in shares of Target by 2,010.7% in the 1st quarter. Sand Hill Global Advisors LLC now owns 35,607 shares of the retailer's stock worth $3,716,000 after buying an additional 33,920 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Target by 18.8% during the first quarter. Aptus Capital Advisors LLC now owns 44,552 shares of the retailer's stock valued at $4,649,000 after buying an additional 7,063 shares during the period. Finally, Cresset Asset Management LLC lifted its position in Target by 29.4% during the first quarter. Cresset Asset Management LLC now owns 181,390 shares of the retailer's stock valued at $18,930,000 after purchasing an additional 41,180 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. DA Davidson lowered their target price on Target from $140.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Telsey Advisory Group reissued a "market perform" rating and issued a $110.00 target price on shares of Target in a report on Wednesday, August 20th. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and decreased their price objective for the company from $97.00 to $82.00 in a report on Monday, May 12th. Finally, Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.74.

Target Stock Up 0.2%

NYSE:TGT traded up $0.21 during trading hours on Friday, reaching $92.92. 1,825,049 shares of the company traded hands, compared to its average volume of 7,124,208. The stock has a market capitalization of $42.22 billion, a P/E ratio of 10.83, a P/E/G ratio of 2.66 and a beta of 1.16. The business's 50-day moving average price is $101.87 and its two-hundred day moving average price is $101.65. Target Corporation has a 1 year low of $87.35 and a 1 year high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

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, topping analysts' consensus estimates 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 the consensus estimate of $24.84 billion. During the same period last year, the business posted $2.57 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Wednesday, August 13th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.8%. 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.