PFG Investments LLC Increases Position in Target Corporation $TGT

PFG Investments LLC boosted its holdings in Target Corporation (NYSE:TGT) by 9.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,797 shares of the retailer’s stock after purchasing an additional 1,239 shares during the quarter. PFG Investments LLC’s holdings in Target were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. grew its holdings in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. grew its holdings in shares of Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target during the second quarter valued at approximately $29,000. WPG Advisers LLC purchased a new stake in shares of Target during the first quarter valued at approximately $32,000. Finally, 1248 Management LLC purchased a new stake in shares of Target during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. UBS Group lowered their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Finally, Bank of America restated an “underperform” rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Nine analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $110.48.

Target Stock Down 0.6%

Shares of TGT stock opened at $89.20 on Thursday. Target Corporation has a 12 month low of $86.30 and a 12 month high of $161.50. The stock has a market cap of $40.53 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.59 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. The company has a 50 day simple moving average of $96.56 and a two-hundred day simple moving average of $97.74.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

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