Institute for Wealth Management LLC. Has $256,000 Holdings in Target Corporation $TGT

Institute for Wealth Management LLC. lessened its holdings in shares of Target Corporation (NYSE:TGT) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,599 shares of the retailer’s stock after selling 155 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Target were worth $256,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the 2nd quarter valued at about $595,839,000. Goldman Sachs Group Inc. raised its stake in shares of Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after purchasing an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Target by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock valued at $420,413,000 after purchasing an additional 229,670 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

TGT opened at $89.52 on Friday. Target Corporation has a 52-week low of $86.30 and a 52-week high of $161.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The firm has a market capitalization of $40.68 billion, a PE ratio of 10.43, a PEG ratio of 2.57 and a beta of 1.18. The business’s 50-day simple moving average is $96.23 and its 200 day simple moving average is $97.63.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. Target’s dividend payout ratio is 53.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TGT shares. Wolfe Research started coverage on Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target on the stock. Evercore ISI dropped their price target on Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. Barclays reissued an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Citigroup lifted their price target on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, UBS Group dropped their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.71.

About Target

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.