Canopy Partners LLC Decreases Stock Position in Target Corporation $TGT

Canopy Partners LLC lowered its position in Target Corporation (NYSE:TGT) by 8.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,137 shares of the retailer’s stock after selling 448 shares during the period. Canopy Partners LLC’s holdings in Target were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Shell Asset Management Co. raised its stake in Target by 41.4% during the second quarter. Shell Asset Management Co. now owns 26,462 shares of the retailer’s stock worth $2,610,000 after purchasing an additional 7,742 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of Target by 31.2% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 13,172 shares of the retailer’s stock valued at $1,299,000 after buying an additional 3,130 shares during the period. CFM Wealth Partners LLC raised its position in shares of Target by 6.4% during the 2nd quarter. CFM Wealth Partners LLC now owns 3,307 shares of the retailer’s stock valued at $326,000 after buying an additional 200 shares during the period. Country Club Bank raised its position in shares of Target by 52.2% during the 2nd quarter. Country Club Bank now owns 52,465 shares of the retailer’s stock valued at $5,206,000 after buying an additional 17,989 shares during the period. Finally, Bennett Associates Wealth Management purchased a new stake in Target in the second quarter valued at $340,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $89.36 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 52-week low of $86.30 and a 52-week high of $161.50. The business’s 50-day moving average price is $95.25 and its 200 day moving average price is $97.27. The firm has a market cap of $40.60 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.57 and a beta of 1.18.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the business posted $2.57 EPS. The company’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts expect 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 $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

A number of research firms have commented on TGT. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 target price on shares of Target in a research report on Wednesday, August 20th. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research report on Saturday, September 27th. Finally, Barclays reissued an “underweight” rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.65.

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.