Bartlett & CO. Wealth Management LLC Cuts Stock Holdings in Target Corporation $TGT

Bartlett & CO. Wealth Management LLC lessened its position in Target Corporation (NYSE:TGT) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,298 shares of the retailer’s stock after selling 126 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Target were worth $2,101,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its holdings in shares of 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 buying an additional 102 shares in the last quarter. Kozak & Associates Inc. boosted its position 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 acquiring an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target during the 2nd quarter valued at about $29,000. WPG Advisers LLC purchased a new stake in Target during the 1st quarter valued at about $32,000. Finally, 1248 Management LLC acquired a new stake in Target in the 1st quarter valued at about $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

TGT stock opened at $89.20 on Thursday. Target Corporation has a 52-week low of $86.30 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 stock has a market cap of $40.53 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The business has a fifty day moving average of $96.56 and a two-hundred day moving average of $97.74.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TGT shares. Piper Sandler restated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Citigroup lifted their price objective on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Finally, Truist Financial lifted their price target on Target from $90.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.48.

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.