AE Wealth Management LLC Increases Stock Holdings in Target Corporation $TGT

AE Wealth Management LLC increased its holdings in Target Corporation (NYSE:TGT) by 61.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,047 shares of the retailer’s stock after buying an additional 3,445 shares during the period. AE Wealth Management LLC’s holdings in Target were worth $893,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after acquiring an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the second quarter valued at approximately $595,839,000. Pacer Advisors Inc. grew its position in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC purchased a new position in shares of Target during the 1st quarter worth approximately $186,361,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Target by 35.5% during the 1st 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 owned by institutional investors and hedge funds.

Target Stock Down 1.4%

Shares of NYSE TGT opened at $90.66 on Friday. The stock has a market capitalization of $41.20 billion, a PE ratio of 10.57, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average of $90.60 and a 200-day moving average of $96.25. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last issued its earnings results 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. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts anticipate that Target Corporation will post 8.69 EPS 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 dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. BTIG Research initiated coverage on Target in a research report on Tuesday, October 14th. They issued a “neutral” rating on the stock. Truist Financial dropped their price objective on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $108.71.

Target 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.