Advisors Asset Management Inc. Grows Stock Holdings in Target Corporation $TGT

Key Points

• Advisors Asset Management Inc. increased its stake in Target Corporation by 60.7% in Q1, resulting in ownership of 38,698 shares worth approximately $4 million.
• Several hedge funds made significant changes to their Target holdings, with Charles Schwab Investment Management boosting their stake by 407.8% during the same period.
• Target's stock recently opened at $93.14, below its 12-month high of $161.50, and the company reported a net margin of 3.72% and revenue decrease of 0.9% year-over-year.

Advisors Asset Management Inc. boosted its position in Target Corporation (NYSE:TGT - Free Report) by 60.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,698 shares of the retailer's stock after acquiring an additional 14,623 shares during the period. Advisors Asset Management Inc.'s holdings in Target were worth $4,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TGT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC acquired a new position in shares of Target in the 1st quarter valued at $186,361,000. Goldman Sachs Group Inc. boosted its holdings in shares of Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Target by 572.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,223,965 shares of the retailer's stock valued at $127,733,000 after purchasing an additional 1,042,047 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TGT shares. The Goldman Sachs Group decreased their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. BMO Capital Markets reduced their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. Evercore ISI reduced their target price on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, August 21st. Morgan Stanley reduced their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Bank of America restated an "underperform" rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $113.74.

Target Stock Performance

Shares of TGT stock opened at $93.14 on Friday. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. 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 firm has a market capitalization of $42.32 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.67 and a beta of 1.16. The company's fifty day moving average price is $101.75 and its two-hundred day moving average price is $101.40.

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

Target Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were given a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.8%. Target's 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.

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