Strathmore Capital Advisors Inc. Takes $485,000 Position in Target Corporation $TGT

Key Points

• Strathmore Capital Advisors Inc. purchased 4,739 shares of Target Corporation, valued at approximately $485,000, during the second quarter, according to a recent SEC filing.
• Target reported **$2.05 earnings per share** for its latest quarter, exceeding analysts' expectations, despite a revenue decline of 0.9% compared to the previous year.
• The company announced a quarterly dividend of $1.14 per share, representing an annualized dividend yield of 5.1%, which is an increase from the prior dividend of $1.12.

Strathmore Capital Advisors Inc. purchased a new stake in Target Corporation (NYSE:TGT - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,739 shares of the retailer's stock, valued at approximately $485,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Target by 0.4% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 169,300 shares of the retailer's stock valued at $16,701,000 after buying an additional 700 shares during the period. Swedbank AB lifted its position in shares of Target by 0.5% during the 2nd quarter. Swedbank AB now owns 534,165 shares of the retailer's stock valued at $52,695,000 after acquiring an additional 2,488 shares during the last quarter. Secure Asset Management LLC increased its holdings in Target by 37.7% in the second quarter. Secure Asset Management LLC now owns 3,106 shares of the retailer's stock worth $306,000 after buying an additional 850 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Target in the second quarter valued at about $214,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Target by 30.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,547 shares of the retailer's stock valued at $7,749,000 after buying an additional 18,111 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGT. Royal Bank Of Canada increased their target price on Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. DA Davidson lowered their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Jefferies Financial Group dropped 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. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Target has an average rating of "Hold" and an average price target of $112.69.

Target Stock Performance

Shares of NYSE TGT traded down $1.30 during trading on Friday, reaching $88.12. The stock had a trading volume of 13,274,029 shares, compared to its average volume of 7,472,747. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The stock has a market cap of $40.04 billion, a PE ratio of 10.27, a P/E/G ratio of 2.58 and a beta of 1.16. The firm's 50 day moving average price is $99.10 and its two-hundred day moving average price is $99.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

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

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. This is a boost from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is 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.