Exeter Financial LLC Raises Holdings in Target Corporation $TGT

Key Points

• Exeter Financial LLC increased its ownership in Target Corporation by 15.3%, owning a total of 38,457 shares worth approximately $3.79 million.
• Target recently reported earnings of $2.05 EPS for the quarter, exceeding expectations, but showed a 0.9% year-over-year revenue decline.
• The company has announced an increase in its quarterly dividend to $1.14 per share, reflecting a yield of 5.2%, with payments scheduled for December 1st.

Exeter Financial LLC lifted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,457 shares of the retailer's stock after purchasing an additional 5,089 shares during the period. Target comprises approximately 1.7% of Exeter Financial LLC's holdings, making the stock its 21st biggest holding. Exeter Financial LLC's holdings in Target were worth $3,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kozak & Associates Inc. grew its stake in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after acquiring an additional 253 shares during the period. Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter worth approximately $40,000. WPG Advisers LLC purchased a new stake in Target in the 1st quarter worth approximately $32,000. Mascagni Wealth Management Inc. purchased a new stake in Target in the 4th quarter worth approximately $49,000. Finally, 1248 Management LLC purchased a new stake in Target in the 1st quarter worth approximately $38,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.4%

Shares of Target stock opened at $88.31 on Thursday. The company has a fifty day moving average price of $98.17 and a 200 day moving average price of $98.43. 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 Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the prior year, the company earned $2.57 EPS. The firm's 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 forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on TGT shares. Bank of America reaffirmed an "underperform" rating and issued a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Guggenheim reissued a "buy" rating and set a $115.00 price objective on shares of Target in a research note on Thursday, August 21st. Wolfe Research assumed coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Nine analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Target has a consensus rating of "Hold" and an average price target of $110.48.

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.

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