Carnegie Investment Counsel Takes $2.45 Million Position in Target Corporation $TGT

Carnegie Investment Counsel purchased a new stake in shares of Target Corporation (NYSE:TGT) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 24,828 shares of the retailer’s stock, valued at approximately $2,449,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. grew its holdings 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 valued at $8,786,000 after purchasing an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC grew its holdings 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 valued at $16,347,000 after purchasing an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC grew its holdings 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 last quarter. Correct Capital Wealth Management grew its holdings 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 valued at $1,415,000 after purchasing 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 valued at approximately $4,623,000. 79.73% of the stock is owned by institutional investors.

Target Stock Up 0.1%

Shares of NYSE TGT opened at $94.34 on Friday. The company has a market capitalization of $42.87 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The company’s 50 day moving average price is $91.98 and its 200-day moving average price is $96.35.

Target (NYSE:TGT) last released its 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 net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter in the previous year, the company earned $2.57 EPS. Target’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. Equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, August 21st. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 target price on shares of Target in a report on Wednesday, August 20th. Wolfe Research began coverage on shares of Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price on the stock. Jefferies Financial Group reduced their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, UBS Group reduced their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Nine investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.00.

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.