Aberdeen Group plc Has $66.28 Million Stock Position in Target Corporation $TGT

Key Points

• Aberdeen Group plc increased its stake in Target Corporation by 5.1% during the second quarter, holding 670,565 shares valued at approximately $66.28 million.
• Target reported a quarterly earnings of $2.05 per share, slightly exceeding analyst estimates, despite a 0.9% decline in revenue compared to the same quarter last year.
• The company's quarterly dividend increased to $1.14 per share, representing an annual yield of 5.3%, with plans to pay this out on December 1st.

Aberdeen Group plc grew its position in shares of Target Corporation (NYSE:TGT - Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 670,565 shares of the retailer's stock after acquiring an additional 32,401 shares during the quarter. Aberdeen Group plc owned 0.15% of Target worth $66,279,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. JB Capital LLC boosted its position in Target by 41.8% during the 2nd quarter. JB Capital LLC now owns 33,207 shares of the retailer's stock worth $3,276,000 after acquiring an additional 9,795 shares during the last quarter. Thompson Investment Management Inc. grew its stake in shares of Target by 104.2% in the second quarter. Thompson Investment Management Inc. now owns 84,146 shares of the retailer's stock valued at $8,301,000 after buying an additional 42,943 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Target by 1,298.4% in the second quarter. Cyndeo Wealth Partners LLC now owns 68,871 shares of the retailer's stock valued at $6,794,000 after buying an additional 63,946 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Target by 25.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 24,019 shares of the retailer's stock valued at $2,370,000 after buying an additional 4,905 shares in the last quarter. Finally, Stiles Financial Services Inc grew its stake in shares of Target by 2.3% in the second quarter. Stiles Financial Services Inc now owns 28,388 shares of the retailer's stock valued at $2,800,000 after buying an additional 626 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Down 3.7%

TGT stock opened at $85.79 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The stock has a market capitalization of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The business's fifty day moving average price is $94.48 and its two-hundred day moving average price is $96.89. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $161.50.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts anticipate that Target Corporation will post 8.69 earnings per share 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 given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TGT shares. Royal Bank Of Canada raised their target price on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Target from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Truist Financial decreased their target price on shares of Target from $102.00 to $83.00 and set a "hold" rating for the company in a research note on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Target in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $109.65.

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.

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