Hennessy Advisors Inc. Has $1.99 Million Stake in Target Corporation $TGT

Hennessy Advisors Inc. trimmed its position in shares of Target Corporation (NYSE:TGT) by 1.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,200 shares of the retailer’s stock after selling 400 shares during the period. Hennessy Advisors Inc.’s holdings in Target were worth $1,993,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. lifted its holdings in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Target in the 2nd quarter worth approximately $595,839,000. Pacer Advisors Inc. lifted its holdings in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC acquired a new stake in Target in the 1st quarter worth approximately $186,361,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Target by 35.5% in 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TGT. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Wedbush restated an “outperform” rating on shares of Target in a report on Thursday, July 17th. Barclays restated an “underweight” rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Loop Capital set a $95.00 price target on Target in a report on Thursday, July 17th. Finally, Evercore ISI lowered their price objective on shares of Target from $106.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $109.71.

Target Stock Performance

TGT opened at $89.03 on Friday. The stock has a market cap of $40.46 billion, a PE ratio of 10.38, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target Corporation has a 1 year low of $86.30 and a 1 year high of $161.50. The stock’s 50 day simple moving average is $95.89 and its 200-day simple moving average is $97.48.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business 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 period in the previous year, the business posted $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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

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.