Marks Group Wealth Management Inc Sells 1,433 Shares of Target Corporation $TGT

Marks Group Wealth Management Inc cut its holdings in shares of Target Corporation (NYSE:TGT) by 8.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,272 shares of the retailer’s stock after selling 1,433 shares during the period. Marks Group Wealth Management Inc’s holdings in Target were worth $1,605,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares in the last quarter. Kozak & Associates Inc. lifted its stake in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the second quarter valued at about $29,000. Global Assets Advisory LLC purchased a new position in Target in the second quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new position in Target in the first quarter valued at about $32,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler restated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Jefferies Financial Group dropped their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Evercore ISI dropped their price objective on shares of Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, September 23rd. Finally, UBS Group cut their target price on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $109.71.

Target Price Performance

Shares of TGT opened at $89.00 on Tuesday. The company has a market capitalization of $40.44 billion, a P/E ratio of 10.37, a P/E/G ratio of 2.58 and a beta of 1.18. The business’s 50-day moving average is $95.54 and its two-hundred day moving average is $97.32. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm 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%.Target’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently announced 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 is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s payout ratio is presently 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.