Prime Capital Investment Advisors LLC Reduces Stake in Target Corporation $TGT

Prime Capital Investment Advisors LLC lowered its holdings in Target Corporation (NYSE:TGT) by 21.3% during the second quarter, HoldingsChannel reports. The fund owned 11,430 shares of the retailer’s stock after selling 3,090 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Target were worth $1,128,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TGT. Charles Schwab Investment Management Inc. increased its holdings 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 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 2nd quarter valued at about $595,839,000. Pacer Advisors Inc. boosted its position in shares of Target by 1,364.3% in the 1st 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 period. Nuveen LLC acquired a new stake in shares of Target in the 1st quarter valued at about $186,361,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.4%

TGT opened at $89.12 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The business has a 50 day simple moving average of $94.76 and a 200-day simple moving average of $97.09. The stock has a market capitalization of $40.50 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.62 and a beta of 1.18. Target Corporation has a 12 month low of $86.30 and a 12 month high of $161.50.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The business 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%.The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Jefferies Financial Group decreased their target price on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. UBS Group decreased their target price on Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Citigroup upped their target price on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Loop Capital set a $95.00 target price on Target in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.65.

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.