Parallel Advisors LLC Has $677,000 Stock Holdings in Target Corporation $TGT

Parallel Advisors LLC trimmed its position in shares of Target Corporation (NYSE:TGT) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,862 shares of the retailer’s stock after selling 492 shares during the quarter. Parallel Advisors LLC’s holdings in Target were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the last quarter. Vident Advisory LLC raised its position in shares of Target by 17.7% during the fourth quarter. Vident Advisory LLC now owns 3,002 shares of the retailer’s stock worth $406,000 after acquiring an additional 452 shares during the last quarter. Woodline Partners LP bought a new position in shares of Target during the fourth quarter worth about $3,740,000. Waverly Advisors LLC raised its position in shares of Target by 7.3% during the fourth quarter. Waverly Advisors LLC now owns 32,200 shares of the retailer’s stock worth $4,353,000 after acquiring an additional 2,178 shares during the last quarter. Finally, CSS LLC IL bought a new position in shares of Target during the fourth quarter worth about $395,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 0.5%

Shares of NYSE:TGT opened at $89.42 on Friday. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.57 and a beta of 1.16. 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 12-month low of $87.35 and a 12-month high of $161.50. The business’s 50 day moving average is $99.42 and its 200 day moving average is $99.21.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. 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 Analysts Forecast Growth

A number of equities analysts have recently issued reports on TGT shares. The Goldman Sachs Group lowered their price objective on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Barclays restated an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Wedbush restated an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Bank of America restated an “underperform” rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Finally, Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.69.

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.