Caisse DE Depot ET Placement DU Quebec Purchases New Stake in Target Corporation $TGT

Key Points

• The Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Target Corporation, purchasing 182,429 shares valued at approximately $19 million.
• Target's quarterly earnings report revealed $2.05 earnings per share, slightly exceeding expectations, but revenue declined 0.9% year-over-year.
• Analyst ratings for Target are mixed, with 10 Buy ratings, 23 Hold ratings, and 3 Sell ratings, while the consensus price target stands at $113.74.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 182,429 shares of the retailer's stock, valued at approximately $19,038,000.

Several other large investors have also modified their holdings of TGT. Charles Schwab Investment Management Inc. boosted its stake in Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Pacer Advisors Inc. boosted its stake in Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after purchasing an additional 3,065,035 shares during the period. Nuveen LLC acquired a new stake in Target during the 1st quarter worth $186,361,000. Ameriprise Financial Inc. boosted its stake in Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Down 0.8%

Shares of Target stock traded down $0.82 during mid-day trading on Monday, hitting $95.99. 5,357,588 shares of the stock were exchanged, compared to its average volume of 7,984,187. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.50. The stock has a market capitalization of $43.62 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company has a 50-day simple moving average of $102.17 and a 200 day simple moving average of $102.25. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period last year, the company earned $2.57 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 53.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TGT shares. Barclays restated an "underweight" rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Evercore ISI cut their price objective on shares of Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research report on Thursday, August 21st. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Finally, DA Davidson cut their price target on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.74.

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.