Fox Run Management L.L.C. Purchases Shares of 15,502 Target Corporation $TGT

Key Points

• Fox Run Management L.L.C. acquired a new stake in Target Corporation, purchasing 15,502 shares valued at approximately $1,618,000 during the first quarter.
• Target's quarterly earnings report revealed an EPS of $1.30, missing the consensus estimate by $0.35, with revenue of $24.20 billion, down 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, representing an annualized dividend yield of 4.3%, with the ex-dividend date set for August 13th.

Fox Run Management L.L.C. purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,502 shares of the retailer's stock, valued at approximately $1,618,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Brighton Jones LLC increased its stake in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after purchasing an additional 3,059 shares during the period. Scotia Capital Inc. acquired a new position in Target in the fourth quarter valued at $233,000. Rockefeller Capital Management L.P. increased its stake in Target by 29.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 103,795 shares of the retailer's stock valued at $14,059,000 after purchasing an additional 23,878 shares during the period. Townsquare Capital LLC increased its stake in Target by 2.2% in the fourth quarter. Townsquare Capital LLC now owns 8,364 shares of the retailer's stock valued at $1,131,000 after purchasing an additional 182 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in Target by 53.5% in the fourth quarter. Belpointe Asset Management LLC now owns 6,092 shares of the retailer's stock valued at $824,000 after purchasing an additional 2,123 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on TGT shares. Wedbush restated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Telsey Advisory Group restated a "market perform" rating and issued a $110.00 price objective on shares of Target in a research note on Thursday, August 14th. BMO Capital Markets dropped their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a research note on Sunday. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $115.42.

Target Price Performance

TGT stock traded up $0.3740 during trading on Tuesday, reaching $105.3240. 3,290,748 shares of the company were exchanged, compared to its average volume of 6,878,632. The company has a market cap of $47.86 billion, a P/E ratio of 11.57, a PEG ratio of 2.98 and a beta of 1.22. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The stock's 50 day moving average price is $101.92 and its 200 day moving average price is $104.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%.The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.3%. Target's payout ratio is currently 50.11%.

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.