Wellington Management Group LLP Cuts Position in Target Corporation $TGT

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 lessened its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 77.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Target by 407.8% during 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 acquiring an additional 12,825,586 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 370,967 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Target by 14.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,798,816 shares of the retailer's stock valued at $513,524,000 after purchasing an additional 477,761 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent research reports. Evercore ISI lowered their price objective on Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, August 21st. Barclays reissued an "underweight" rating and set a $91.00 price target on shares of Target in a research report on Monday, July 21st. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. BMO Capital Markets decreased their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. Finally, Morgan Stanley cut their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and an average price target of $113.74.

Target Trading Up 0.4%

NYSE:TGT traded up $0.37 on Thursday, reaching $92.72. 2,970,131 shares of the company's stock were exchanged, compared to its average volume of 7,138,652. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. Target Corporation has a 52-week low of $87.35 and a 52-week high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $101.97 and a 200-day moving average of $101.89.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The firm 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 quarter in the previous year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 53.15%.

Target 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.