Forvis Mazars Wealth Advisors LLC Has $2.20 Million Stock Position in Target Corporation $TGT

Forvis Mazars Wealth Advisors LLC decreased its position in shares of Target Corporation (NYSE:TGT) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,548 shares of the retailer’s stock after selling 7,635 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Target were worth $2,202,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TGT. WFA of San Diego LLC bought a new stake in shares of Target during the 2nd quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its position in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the second quarter worth $29,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Target in the 3rd quarter valued at $27,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Target in the 2nd quarter valued at $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada decreased their target price on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Piper Sandler reissued a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Sanford C. Bernstein reduced their price target on shares of Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a research note on Thursday, November 20th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $81.00 price target on shares of Target in a report on Tuesday, December 30th. Ten analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $103.03.

Target Stock Performance

NYSE:TGT opened at $106.04 on Thursday. The stock’s 50-day moving average is $96.95 and its 200-day moving average is $96.26. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The stock has a market cap of $48.02 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 11.89 and a beta of 1.12.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The firm had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.