Los Angeles Capital Management LLC Grows Stock Holdings in Target Corporation $TGT

Los Angeles Capital Management LLC boosted its holdings in Target Corporation (NYSE:TGT) by 251.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,781 shares of the retailer’s stock after buying an additional 66,392 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Target were worth $9,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TGT. Raleigh Capital Management Inc. boosted its position in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares in the last quarter. Kozak & Associates Inc. lifted its stake in 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 purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in Target in the second quarter valued at approximately $29,000. Global Assets Advisory LLC acquired a new position in Target in the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC purchased a new position in Target in the first quarter valued at approximately $32,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TGT. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Citigroup boosted their price target on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Jefferies Financial Group cut their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Finally, Wolfe Research assumed coverage on Target in a research report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target Stock Up 2.3%

TGT opened at $91.22 on Monday. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The business has a 50 day moving average price of $90.77 and a two-hundred day moving average price of $96.39. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company has a market cap of $41.45 billion, a PE ratio of 10.63, a P/E/G ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company 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 company’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

Target Company Profile

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.