Wilmington Savings Fund Society FSB Cuts Stock Holdings in Target Corporation $TGT

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Target Corporation by 11% during Q2, owning 24,336 shares valued at $2.4 million after selling 3,008 shares.
• Target announced a quarterly dividend increase to $1.14 per share, reflecting a 5% yield and a payout ratio of 53.15%.
• Target's latest earnings report showed an EPS of $2.05, exceeding expectations and indicating a slight revenue decline of 0.9% compared to the previous year.

Wilmington Savings Fund Society FSB lowered its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,336 shares of the retailer's stock after selling 3,008 shares during the period. Wilmington Savings Fund Society FSB's holdings in Target were worth $2,401,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TGT. Raleigh Capital Management Inc. raised its stake in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after purchasing an additional 102 shares during the period. Kozak & Associates Inc. raised its stake in Target by 2,530.0% during the second 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. Investment Research & Advisory Group Inc. purchased a new position in Target during the second quarter worth approximately $29,000. Global Assets Advisory LLC purchased a new position in Target during the second quarter worth approximately $31,000. Finally, WPG Advisers LLC purchased a new position in Target during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Performance

TGT stock opened at $90.96 on Thursday. 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 company has a market capitalization of $41.33 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 2.59 and a beta of 1.18. Target Corporation has a 12 month low of $85.36 and a 12 month high of $160.79. The firm has a 50 day moving average of $93.67 and a two-hundred day moving average of $96.61.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. Target's dividend payout ratio is presently 53.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Barclays reissued an "underweight" rating and issued a $91.00 target price on shares of Target in a research report on Monday, July 21st. Finally, BTIG Research began coverage on shares of Target in a research report on Tuesday. They set a "neutral" rating on the stock. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $109.00.

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.

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