Guggenheim Capital LLC Sells 22,248 Shares of Target Corporation $TGT

Guggenheim Capital LLC cut its position in Target Corporation (NYSE:TGT) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,672 shares of the retailer’s stock after selling 22,248 shares during the period. Guggenheim Capital LLC’s holdings in Target were worth $14,173,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TGT. Brighton Jones LLC raised its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the last quarter. Cary Street Partners Financial LLC grew its holdings in shares of Target by 21.2% during the first quarter. Cary Street Partners Financial LLC now owns 26,682 shares of the retailer’s stock worth $2,785,000 after purchasing an additional 4,659 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Target by 9.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after buying an additional 106 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after buying an additional 1,406,653 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its position in Target by 42.5% during the 1st quarter. Strategy Asset Managers LLC now owns 3,057 shares of the retailer’s stock worth $319,000 after buying an additional 912 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Argus dropped their target price on Target from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Friday, November 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Eleven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $102.79.

Target Stock Performance

Shares of TGT stock opened at $91.55 on Friday. The stock has a market cap of $41.45 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 9.89 and a beta of 1.13. The stock has a 50-day moving average of $90.37 and a 200-day moving average of $95.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. Target Corporation has a one year low of $83.44 and a one year high of $145.08.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The firm had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The business’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, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is currently 55.34%.

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.