Sagespring Wealth Partners LLC Purchases New Position in Target Corporation $TGT

Sagespring Wealth Partners LLC acquired a new position in shares of Target Corporation (NYSE:TGT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,971 shares of the retailer’s stock, valued at approximately $446,000.

Other large investors also recently modified their holdings of the company. Stoneridge Investment Partners LLC boosted its holdings in Target by 8.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 31,948 shares of the retailer’s stock worth $2,866,000 after acquiring an additional 2,387 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Target during the third quarter valued at about $1,698,000. Kanawha Capital Management LLC boosted its holdings in Target by 0.7% during the third quarter. Kanawha Capital Management LLC now owns 99,551 shares of the retailer’s stock worth $8,930,000 after purchasing an additional 734 shares during the last quarter. PFG Investments LLC grew its position in Target by 10.0% in the 3rd quarter. PFG Investments LLC now owns 15,172 shares of the retailer’s stock worth $1,361,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Inlet Private Wealth LLC grew its position in Target by 60.3% in the 3rd quarter. Inlet Private Wealth LLC now owns 26,575 shares of the retailer’s stock worth $2,384,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 2.3%

NYSE:TGT opened at $101.71 on Thursday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $142.24. The stock’s fifty day moving average price is $98.56 and its two-hundred day moving average price is $96.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The company has a market cap of $46.06 billion, a P/E ratio of 12.34, a P/E/G ratio of 11.32 and a beta of 1.12.

Target (NYSE:TGT) last released its quarterly earnings data 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. 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 for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. 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 EPS for the current year.

Target Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TGT. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Truist Financial boosted their price objective on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 target price on Target in a research report on Thursday, January 8th. Bank of America cut their price target on shares of Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Target in a research report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.