Ballentine Partners LLC Boosts Stock Holdings in Target Corporation $TGT

Ballentine Partners LLC lifted its position in Target Corporation (NYSE:TGT - Free Report) by 35.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,667 shares of the retailer's stock after purchasing an additional 3,056 shares during the period. Ballentine Partners LLC's holdings in Target were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kozak & Associates Inc. grew its position in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after acquiring an additional 253 shares during the period. WPG Advisers LLC purchased a new position in Target during the first quarter worth approximately $32,000. 1248 Management LLC purchased a new position in Target during the first quarter worth approximately $38,000. Atwood & Palmer Inc. grew its holdings in Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after purchasing an additional 352 shares during the period. Finally, Abound Financial LLC purchased a new stake in shares of Target in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Down 1.3%

TGT opened at $87.16 on Friday. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company's 50 day simple moving average is $97.83 and its two-hundred day simple moving average is $98.25. Target Corporation has a 1-year low of $86.30 and a 1-year 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.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 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 during the quarter, compared to analysts' expectations of $24.84 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The business's revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is a boost from Target's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. Target's dividend payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. Barclays reiterated an "underweight" rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Evercore ISI decreased their price objective on shares of Target from $106.00 to $105.00 and set an "in-line" rating on the stock in a report on Tuesday. Wolfe Research began coverage on shares of Target in a research report on Thursday, September 18th. They issued an "underperform" rating and a $80.00 target price on the stock. Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Finally, Zacks Research upgraded Target from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Nine 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 stock. Based on data from MarketBeat, Target has a consensus rating of "Hold" and an average price target of $110.48.

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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