Wellington Management Group LLP Sells 43,625 Shares of Target Corporation $TGT

Wellington Management Group LLP reduced its stake in Target Corporation (NYSE:TGT) by 77.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,759 shares of the retailer’s stock after selling 43,625 shares during the period. Wellington Management Group LLP’s holdings in Target were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. boosted its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the period. Pacer Advisors Inc. lifted its stake in Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new stake in Target during the first quarter worth $186,361,000. Ameriprise Financial Inc. lifted its stake in Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE TGT opened at $95.99 on Monday. The company has a market capitalization of $43.62 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.77 and a beta of 1.16. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.50. The stock has a fifty day simple moving average of $102.17 and a 200 day simple moving average of $102.25. 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 (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is presently 53.15%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TGT shares. Barclays restated an “underweight” rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. Mizuho cut their target price on Target from $92.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. The Goldman Sachs Group cut their target price on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Bank of America restated an “underperform” rating and set a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Morgan Stanley dropped their price target on Target from $160.00 to $112.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $113.74.

Target Company 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.