Accredited Investors Inc. Has $809,000 Position in Target Corporation $TGT

Accredited Investors Inc. lessened its holdings in shares of Target Corporation (NYSE:TGT) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,198 shares of the retailer’s stock after selling 901 shares during the quarter. Accredited Investors Inc.’s holdings in Target were worth $809,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Target during the second quarter worth $595,839,000. Pacer Advisors Inc. raised its holdings in Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Target in the first quarter worth about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its position 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 worth $560,420,000 after buying an additional 1,406,653 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

TGT opened at $91.70 on Wednesday. The stock’s 50 day simple moving average is $90.65 and its 200-day simple moving average is $96.32. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The stock has a market cap of $41.67 billion, a PE ratio of 10.69, a P/E/G ratio of 2.74 and a beta of 1.19. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current 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 given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is currently 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Wolfe Research began coverage on Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target on the stock. Cowen restated a “hold” rating on shares of Target in a research note on Monday. BTIG Research started coverage on shares of Target in a report on Tuesday, October 14th. They set a “neutral” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $108.71.

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.