Envestnet Asset Management Inc. Has $51.61 Million Stock Holdings in Target Corporation $TGT

Envestnet Asset Management Inc. trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575,352 shares of the retailer’s stock after selling 86,493 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Target worth $51,609,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Brighton Jones LLC lifted its stake in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after buying an additional 3,059 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after buying an additional 11,047 shares during the last quarter. Callan Family Office LLC grew its stake in Target by 76.9% in the second quarter. Callan Family Office LLC now owns 12,092 shares of the retailer’s stock valued at $1,193,000 after purchasing an additional 5,258 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Target by 3.4% during the second quarter. Apollon Wealth Management LLC now owns 10,859 shares of the retailer’s stock worth $1,071,000 after buying an additional 362 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Target by 21.9% during the second quarter. Concurrent Investment Advisors LLC now owns 47,657 shares of the retailer’s stock worth $4,701,000 after buying an additional 8,557 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $115.61 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The company has a market cap of $52.35 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 11.83 and a beta of 1.14. Target Corporation has a 52 week low of $83.44 and a 52 week high of $132.47. The firm’s 50-day simple moving average is $102.18 and its two-hundred day simple moving average is $96.63.

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

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s dividend payout ratio is presently 55.34%.

Analyst Ratings Changes

TGT has been the subject of several recent research reports. DA Davidson set a $120.00 price target on Target in a research note on Monday, January 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 target price on shares of Target in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $108.00 price objective on Target in a research report on Thursday, January 8th. 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, November 10th. Finally, Bank of America reduced their target price on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $103.21.

Target Company 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.