Institute for Wealth Management LLC. Sells 155 Shares of Target Corporation $TGT

Institute for Wealth Management LLC. lowered its holdings in shares of Target Corporation (NYSE:TGT) by 5.6% in the second quarter, HoldingsChannel reports. The firm owned 2,599 shares of the retailer’s stock after selling 155 shares during the period. Institute for Wealth Management LLC.’s holdings in Target were worth $256,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TGT. Brighton Jones LLC boosted its holdings in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the period. NBC Securities Inc. boosted its holdings in shares of Target by 208,850.0% during the first quarter. NBC Securities Inc. now owns 4,179 shares of the retailer’s stock worth $436,000 after acquiring an additional 4,177 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Target by 4.1% during the first quarter. LS Investment Advisors LLC now owns 16,910 shares of the retailer’s stock worth $1,765,000 after acquiring an additional 670 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Target by 16.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,906 shares of the retailer’s stock worth $616,000 after acquiring an additional 828 shares during the period. Finally, Chesley Taft & Associates LLC boosted its holdings in shares of Target by 13.1% during the first quarter. Chesley Taft & Associates LLC now owns 9,756 shares of the retailer’s stock worth $1,018,000 after acquiring an additional 1,130 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Truist Financial dropped their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday. Guggenheim reiterated a “buy” rating and issued a $115.00 price target on shares of Target in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Jefferies Financial Group dropped their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.71.

Target Stock Up 0.4%

Shares of TGT opened at $89.52 on Friday. Target Corporation has a one year low of $86.30 and a one year high of $161.50. The company has a market cap of $40.68 billion, a P/E ratio of 10.43, a P/E/G ratio of 2.57 and a beta of 1.18. 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 has a 50 day simple moving average of $96.23 and a two-hundred day simple moving average of $97.63.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The business 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 was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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

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.