Savvy Advisors Inc. Buys Shares of 2,664 Target Corporation $TGT

Savvy Advisors Inc. bought a new position in shares of Target Corporation (NYSE:TGT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,664 shares of the retailer’s stock, valued at approximately $263,000.

Several other institutional investors also recently modified their holdings of the stock. JNBA Financial Advisors grew its position in Target by 3.0% during the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after acquiring an additional 96 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC boosted its stake in shares of Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Target by 9.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after purchasing an additional 106 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of Target by 21.4% during the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after purchasing an additional 107 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. DA Davidson dropped their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Barclays reissued an “underweight” rating and issued a $91.00 price objective on shares of Target in a research note on Monday, July 21st. UBS Group lowered their target price on Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Finally, Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target Stock Performance

Shares of Target stock opened at $92.92 on Monday. The business has a 50-day moving average price of $91.37 and a two-hundred day moving average price of $96.48. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The company has a market cap of $42.22 billion, a P/E ratio of 10.83, a PEG ratio of 2.74 and a beta of 1.18.

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

Target Increases Dividend

The business 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 represents a $4.56 annualized dividend and a dividend yield of 4.9%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

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.