Commerzbank Aktiengesellschaft FI Grows Holdings in Target Corporation $TGT

Key Points

• Commerzbank Aktiengesellschaft FI increased its holdings in Target Corporation by 25.7% during Q2, owning a total of 24,019 shares valued at approximately $2.37 million.
• Analysts have mixed opinions on TGT, with nine giving a Buy rating and four an Underperform rating; the average target price is set at $109.65.
• Target recently announced a quarterly dividend increase to $1.14 per share, representing a 5.3% yield and reflecting its intention to reward shareholders.

Commerzbank Aktiengesellschaft FI lifted its holdings in Target Corporation (NYSE:TGT - Free Report) by 25.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,019 shares of the retailer's stock after buying an additional 4,905 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Target were worth $2,370,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TGT. Raleigh Capital Management Inc. grew its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Kozak & Associates Inc. grew its position in 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 purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target during the 2nd quarter valued at about $29,000. Global Assets Advisory LLC purchased a new stake in Target during the 2nd quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new stake in Target during the 1st quarter valued at about $32,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TGT shares. Piper Sandler reissued a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Barclays restated an "underweight" rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. Wedbush restated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. 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 research note on Friday, August 15th. Finally, Wolfe Research started coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $109.65.

Target Price Performance

Shares of NYSE:TGT opened at $85.79 on Friday. The firm's 50 day moving average price is $94.48 and its 200-day moving average price is $96.95. Target Corporation has a twelve month low of $85.36 and a twelve month high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $38.98 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18.

Target (NYSE:TGT - Get Free Report) last issued 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. 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 analysts' expectations of $24.84 billion. During the same quarter in the prior year, the business earned $2.57 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company 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 dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.