Sagespring Wealth Partners LLC Buys Shares of 4,971 Target Corporation $TGT

Sagespring Wealth Partners LLC purchased a new position in Target Corporation (NYSE:TGT) during the third quarter, Holdings Channel reports. The fund purchased 4,971 shares of the retailer’s stock, valued at approximately $446,000.

A number of other hedge funds also recently made changes to their positions in TGT. LBP AM SA bought a new stake in shares of Target in the 2nd quarter worth approximately $5,427,000. Precedent Wealth Partners LLC raised its stake in Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying an additional 2,869 shares during the last quarter. Mattern Capital Management LLC boosted its holdings in Target by 7.6% in the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after acquiring an additional 5,573 shares in the last quarter. Northern Financial Advisors Inc purchased a new stake in shares of Target in the second quarter worth $370,000. Finally, CWM LLC increased its holdings in shares of Target by 41.5% during the third quarter. CWM LLC now owns 38,819 shares of the retailer’s stock valued at $3,482,000 after acquiring an additional 11,378 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TGT. Truist Financial increased their price objective on shares of Target from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 20th. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. Morgan Stanley reissued an “overweight” rating and set a $125.00 price target on shares of Target in a research report on Thursday, January 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Target in a research report on Thursday, December 18th. Finally, BMO Capital Markets reduced their target price on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a report on Thursday, November 20th. Ten equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $103.03.

Target Stock Down 2.3%

Target stock opened at $101.71 on Thursday. Target Corporation has a one year low of $83.44 and a one year high of $142.24. The stock has a fifty day moving average of $98.56 and a 200 day moving average of $96.32. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The stock has a market cap of $46.06 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 11.32 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 analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same period in the previous year, the company posted $1.85 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is currently 55.34%.

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.