WBH Advisory Inc. Trims Stock Holdings in Target Corporation $TGT

WBH Advisory Inc. trimmed its position in Target Corporation (NYSE:TGT) by 9.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,952 shares of the retailer’s stock after selling 415 shares during the period. WBH Advisory Inc.’s holdings in Target were worth $390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. grew its stake in Target by 407.8% in 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 purchasing an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Target in the second quarter worth $595,839,000. Pacer Advisors Inc. boosted its holdings in Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. Nuveen LLC bought a new stake in Target in the first quarter worth $186,361,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TGT shares. Bank of America reissued an “underperform” rating and issued a $93.00 target price (down from $105.00) on shares of Target in a report on Friday, August 15th. UBS Group dropped their target price on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Wedbush reissued an “outperform” rating on shares of Target in a report on Thursday, July 17th. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $109.00.

Target Trading Up 0.8%

Shares of NYSE:TGT opened at $91.61 on Tuesday. The company has a market cap of $41.63 billion, a P/E ratio of 10.68, a PEG ratio of 2.64 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. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The stock’s fifty day moving average price is $92.82 and its 200-day moving average price is $96.34.

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

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. 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%.

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.