Advocate Group LLC Buys 5,543 Shares of Target Corporation $TGT

Advocate Group LLC grew its stake in Target Corporation (NYSE:TGT) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,997 shares of the retailer’s stock after purchasing an additional 5,543 shares during the period. Advocate Group LLC’s holdings in Target were worth $6,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Punch & Associates Investment Management Inc. lifted its stake in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after acquiring an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC lifted its stake in shares of Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after acquiring an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC lifted 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 worth $1,303,000 after acquiring an additional 2,869 shares during the last quarter. Correct Capital Wealth Management lifted its stake in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after acquiring an additional 4,189 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Target during the 1st quarter worth approximately $4,623,000. 79.73% of the stock is owned by institutional investors.

Target Trading Down 3.7%

Shares of NYSE:TGT opened at $85.79 on Friday. Target Corporation has a 12-month low of $85.36 and a 12-month high of $161.50. The business’s fifty day simple moving average is $94.48 and its 200-day simple moving average is $96.89. The company has a market capitalization of $38.98 billion, a PE ratio of 10.00, a P/E/G ratio of 2.48 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.

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

Target Increases Dividend

The business 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 is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.3%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGT. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. Royal Bank Of Canada lifted their target price on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Citigroup lifted 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, Bank of America reaffirmed an “underperform” rating and set a $93.00 target price (down from $105.00) on shares of Target in a research report on Friday, August 15th. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.65.

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.