Amundi Purchases 431,198 Shares of Target Corporation $TGT

Key Points

• Amundi increased its stake in Target Corporation by 18.5% during Q1, holding approximately 2.76 million shares valued at $287.77 million as of its last SEC filing.
• Target reported Q2 earnings of $2.05 EPS, exceeding the consensus estimate of $2.04, but revenue decreased by 0.9% year-over-year, totaling $24.99 billion.
• The company declared a quarterly dividend of $1.12, with an annualized dividend yield of 4.8%, which was paid to investors of record on August 13th.

Amundi raised its position in shares of Target Corporation (NYSE:TGT - Free Report) by 18.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,757,432 shares of the retailer's stock after buying an additional 431,198 shares during the quarter. Amundi owned about 0.61% of Target worth $287,766,000 at the end of the most recent quarter.

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

Target Price Performance

Shares of TGT traded down $1.62 on Monday, hitting $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 market capitalization of $41.60 billion, a PE ratio of 10.67, a PEG ratio of 2.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $161.50. The company has a 50 day moving average price of $101.75 and a 200 day moving average price of $101.00.

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 during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Wednesday, August 13th were given a $1.12 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.9%. Target's dividend payout ratio is currently 53.15%.

Analyst Ratings Changes

Several research firms recently commented on TGT. Mizuho lowered their target price on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets lowered their target price on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, May 22nd. Royal Bank Of Canada raised their target price on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, DA Davidson reduced their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Ten 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. Based on data from MarketBeat.com, Target currently has a consensus rating of "Hold" and an average price target of $113.74.

About Target

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.