Valley Wealth Managers Inc. Decreases Position in Target Corporation $TGT

Valley Wealth Managers Inc. trimmed its position in shares of Target Corporation (NYSE:TGT) by 97.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,972 shares of the retailer’s stock after selling 89,126 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Target were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC raised its stake in shares of Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares during the period. Mattern Capital Management LLC grew its position in Target by 7.6% during the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after buying an additional 5,573 shares in the last quarter. Northern Financial Advisors Inc bought a new position in Target in the 2nd quarter worth about $370,000. CWM LLC raised its stake in Target by 41.5% in the third quarter. CWM LLC now owns 38,819 shares of the retailer’s stock valued at $3,482,000 after purchasing an additional 11,378 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in Target by 3.5% in the second quarter. Yousif Capital Management LLC now owns 122,358 shares of the retailer’s stock worth $12,071,000 after acquiring an additional 4,110 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

Target stock opened at $105.40 on Friday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $140.39. The stock has a market cap of $47.72 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 11.19 and a beta of 1.12. The stock’s 50 day simple moving average is $99.30 and its two-hundred day simple moving average is $96.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97.

Target (NYSE:TGT) last released 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 company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. Target had a return on equity of 22.74% and a net margin of 3.58%.The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s payout ratio is currently 55.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TGT shares. Citigroup dropped their target price on Target from $100.00 to $89.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. BTIG Research started coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Mizuho decreased their target price on shares of Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Argus lowered their price objective on shares of Target from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, December 1st. Finally, Royal Bank Of Canada dropped their target price on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $103.03.

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.