Target Corporation $TGT Shares Purchased by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. significantly increased its stake in Target Corporation by acquiring 66,245 shares, raising its total holdings to 68,541 shares valued at approximately $7.15 million.
• Other institutional investors also boosted their positions, with Charles Schwab Investment Management increasing its shares by 407.8%, now owning nearly 16 million shares.
• Analysts have mixed views on Target's stock, with the consensus rating categorized as "Hold" and a revised average price target of $113.74.

First Manhattan CO. LLC. grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 2,885.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,541 shares of the retailer's stock after acquiring an additional 66,245 shares during the period. First Manhattan CO. LLC.'s holdings in Target were worth $7,153,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. DSG Capital Advisors LLC grew its holdings in Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock valued at $16,347,000 after purchasing an additional 21,726 shares in the last quarter. Viking Fund Management LLC grew its holdings in Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock valued at $6,262,000 after purchasing an additional 10,000 shares in the last quarter. Correct Capital Wealth Management grew its holdings in Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after purchasing an additional 4,189 shares in the last quarter. Chapin Davis Inc. grew its holdings in Target by 64.7% during the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock valued at $888,000 after purchasing an additional 3,342 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Target during the 1st quarter valued at $1,399,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Performance

Shares of NYSE TGT traded up $0.43 during midday trading on Friday, hitting $93.14. The company's stock had a trading volume of 4,890,485 shares, compared to its average volume of 8,307,698. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.50. The firm's fifty day moving average price is $101.75 and its 200-day moving average price is $101.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The firm has a market cap of $42.32 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.67 and a beta of 1.16.

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 net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the business posted $2.57 EPS. The company'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. On average, sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were issued a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.8%. Target's payout ratio is 53.15%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. The Goldman Sachs Group lowered their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Jefferies Financial Group lowered their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $113.74.

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.