Phoenix Financial Ltd. Has $69.26 Million Stock Position in Target Corporation $TGT

Phoenix Financial Ltd. reduced its holdings in Target Corporation (NYSE:TGT) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 702,070 shares of the retailer’s stock after selling 19,425 shares during the quarter. Phoenix Financial Ltd.’s holdings in Target were worth $69,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Raleigh Capital Management Inc. increased its position in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the period. Kozak & Associates Inc. increased its position in shares of Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the period. Investment Research & Advisory Group Inc. acquired a new stake in shares of Target during the second quarter worth $29,000. Global Assets Advisory LLC acquired a new stake in shares of Target during the second quarter worth $31,000. Finally, WPG Advisers LLC acquired a new stake in shares of Target during the first quarter worth $32,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TGT shares. Bank of America reiterated an “underperform” rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Evercore ISI decreased their price objective on shares of Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, October 14th. Guggenheim reiterated a “buy” rating and set a $115.00 price objective on shares of Target in a research report on Thursday, August 21st. Royal Bank Of Canada increased their target price on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Finally, Piper Sandler reissued a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $109.00.

Target Stock Up 0.8%

Shares of NYSE TGT opened at $91.61 on Tuesday. The firm has a market cap of $41.63 billion, a PE ratio of 10.68, a P/E/G ratio of 2.64 and a beta of 1.18. Target Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. The company’s fifty day simple moving average is $92.82 and its 200 day simple moving average is $96.34. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the firm earned $2.57 earnings per share. The business’s quarterly 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, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is 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.