Financial Partners Group LLC Takes $533,000 Position in Target Corporation $TGT

Key Points

• Financial Partners Group LLC has acquired a new position in Target Corporation, purchasing 5,405 shares valued at approximately $533,000 during the second quarter.
• Target Corporation recently declared a quarterly dividend increase to $1.14 per share, up from $1.12, resulting in an annualized dividend yield of 5.2%.
• Despite a revenue decrease of 0.9% year-over-year, Target reported earnings of $2.05 per share, surpassing analysts' expectations of $2.04.

Financial Partners Group LLC purchased a new stake in shares of Target Corporation (NYSE:TGT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,405 shares of the retailer's stock, valued at approximately $533,000.

Other institutional investors have also recently made changes to their positions in the company. Kozak & Associates Inc. raised 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 buying an additional 253 shares during the period. WPG Advisers LLC purchased a new stake in shares of Target during the 1st quarter valued at approximately $32,000. 1248 Management LLC purchased a new stake in shares of Target during the 1st quarter valued at approximately $38,000. Atwood & Palmer Inc. raised its position 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 Target in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Up 1.0%

Target stock opened at $88.04 on Friday. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The stock's fifty day simple moving average is $97.53 and its 200-day simple moving average is $98.02. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $40.01 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.53 and a beta of 1.16.

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 analysts' consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. This is a boost from Target's previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target's dividend payout ratio (DPR) is currently 53.15%.

Analyst Ratings Changes

A number of analysts have issued reports on TGT shares. Royal Bank Of Canada boosted 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. Zacks Research raised Target from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Guggenheim reissued a "buy" rating and issued a $115.00 target price on shares of Target in a research report on Thursday, August 21st. Loop Capital set a $95.00 target price on Target in a research report on Thursday, July 17th. Finally, Wolfe Research started coverage on Target in a research report on Thursday, September 18th. They issued an "underperform" rating and a $80.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of "Hold" and a consensus target price 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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