Target Corporation $TGT Stock Holdings Boosted by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its position in Target Corporation (NYSE:TGT) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,501 shares of the retailer’s stock after purchasing an additional 2,136 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Target were worth $3,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC raised its holdings in shares of Target by 61.5% during the second quarter. AE Wealth Management LLC now owns 9,047 shares of the retailer’s stock valued at $893,000 after buying an additional 3,445 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in Target by 2,673.7% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 13,175 shares of the retailer’s stock valued at $1,300,000 after acquiring an additional 12,700 shares during the period. Penserra Capital Management LLC raised its stake in Target by 27.1% during the 2nd quarter. Penserra Capital Management LLC now owns 8,559 shares of the retailer’s stock valued at $843,000 after acquiring an additional 1,823 shares in the last quarter. Excalibur Management Corp boosted its position in Target by 8.9% during the 2nd quarter. Excalibur Management Corp now owns 7,256 shares of the retailer’s stock worth $716,000 after acquiring an additional 595 shares during the period. Finally, Twin Capital Management Inc. grew its stake in shares of Target by 6.5% in the second quarter. Twin Capital Management Inc. now owns 6,275 shares of the retailer’s stock worth $619,000 after purchasing an additional 383 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. DA Davidson dropped their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Citigroup upped their target price on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $109.00.

Target Stock Up 2.3%

Shares of Target stock opened at $91.22 on Friday. Target Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. The firm has a market capitalization of $41.45 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. 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 stock’s fifty day moving average is $90.77 and its 200-day moving average is $96.34.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $24.84 billion. During the same period last year, the company posted $2.57 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts anticipate 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. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. 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 dividend yield of 5.0%. Target’s dividend payout ratio is currently 53.15%.

Target 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.