IMA Advisory Services Inc. Sells 10,493 Shares of Target Corporation $TGT

IMA Advisory Services Inc. decreased its holdings in shares of Target Corporation (NYSE:TGT) by 71.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,273 shares of the retailer’s stock after selling 10,493 shares during the quarter. IMA Advisory Services Inc.’s holdings in Target were worth $383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in 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 in the last quarter. Woodline Partners LP increased its position in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after purchasing an additional 11,047 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Target by 79.7% during the 2nd quarter. RFG Advisory LLC now owns 7,784 shares of the retailer’s stock worth $768,000 after purchasing an additional 3,453 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Target by 32.9% in the 2nd quarter. Mutual Advisors LLC now owns 62,058 shares of the retailer’s stock valued at $6,581,000 after buying an additional 15,372 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management grew its stake in shares of Target by 5.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 10,697 shares of the retailer’s stock valued at $1,055,000 after buying an additional 528 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, December 18th. JPMorgan Chase & Co. dropped their price target on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 price objective (down from $94.00) on shares of Target in a report on Thursday, November 20th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets dropped their target price on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.90.

Target Price Performance

Shares of NYSE TGT opened at $112.63 on Friday. The stock has a market capitalization of $51.00 billion, a PE ratio of 13.67, a P/E/G ratio of 11.71 and a beta of 1.14. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $131.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The business has a fifty day moving average price of $103.53 and a two-hundred day moving average price of $96.91.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same quarter last year, the business earned $1.85 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s payout ratio is 55.34%.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.