Adage Capital Partners GP L.L.C. Has $40.83 Million Holdings in Target Corporation $TGT

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Target Corporation by 42.9%, acquiring an additional 117,500 shares in the first quarter, bringing their total holdings to 391,279 shares, valued at approximately $40.8 million.
• Target's recent earnings announcement revealed an EPS of $2.05, slightly exceeding the consensus estimate, though revenue dropped 0.9% year over year.
• Analyst sentiment is mixed, with ten analysts rating Target as a Buy, and others adjusting target prices downward, resulting in a current consensus rating of "Hold" and an average target price of $113.74.

Adage Capital Partners GP L.L.C. lifted its holdings in Target Corporation (NYSE:TGT - Free Report) by 42.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,279 shares of the retailer's stock after buying an additional 117,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of Target worth $40,834,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Target in the fourth quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Target during the 1st quarter worth approximately $32,000. 1248 Management LLC bought a new position in Target in the 1st quarter worth approximately $38,000. Heck Capital Advisors LLC bought a new position in Target in the 4th quarter worth approximately $40,000. Finally, Atwood & Palmer Inc. boosted its stake in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after purchasing an additional 352 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. BMO Capital Markets reduced their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Barclays reissued an "underweight" rating and set a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Bank of America reissued an "underperform" rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Robert W. Baird set a $100.00 price objective on Target in a research note on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $113.74.

Target Stock Performance

Shares of Target stock traded down $1.62 during trading on Monday, reaching $91.55. The company's stock had a trading volume of 9,209,535 shares, compared to its average volume of 7,155,784. 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 business's fifty day moving average price is $101.75 and its 200-day moving average price is $101.00. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The firm has a market cap of $41.60 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) 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 firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The company'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. As a group, equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Wednesday, August 13th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.9%. Target's dividend payout ratio 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.