Hilltop National Bank Makes New $500,000 Investment in Target Corporation $TGT

Key Points

• Hilltop National Bank invested approximately $500,000 in Target Corporation (NYSE:TGT), acquiring 5,071 shares during the 2nd quarter.
• Various institutional investors, including Kozak & Associates Inc. and Raleigh Capital Management Inc., have increased their holdings in Target, demonstrating strong institutional interest with 79.73% of stock owned by institutional investors.
• Target recently declared a quarterly dividend of $1.14 per share, reflecting an increase from the prior dividend, with a dividend yield of 5.1%.

Hilltop National Bank acquired a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,071 shares of the retailer's stock, valued at approximately $500,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kozak & Associates Inc. raised its holdings in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the 2nd quarter worth about $29,000. WPG Advisers LLC bought a new stake in Target during the 1st quarter worth about $32,000. Finally, 1248 Management LLC bought a new stake in Target during the 1st quarter worth about $38,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGT. Truist Financial lowered their price target on Target from $102.00 to $83.00 and set a "hold" rating for the company in a research note on Thursday. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Evercore ISI lowered their price target on Target from $106.00 to $105.00 and set an "in-line" rating for the company in a research note on Tuesday, September 23rd. Barclays reaffirmed an "underweight" rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Finally, Wedbush reaffirmed an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Target presently has an average rating of "Hold" and a consensus price target of $109.71.

Target Price Performance

NYSE TGT opened at $89.03 on Friday. The business has a 50 day simple moving average of $95.89 and a 200 day simple moving average of $97.53. Target Corporation has a 52-week low of $86.30 and a 52-week high of $161.50. 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 stock has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business 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 business earned $2.57 EPS. Target's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. This is an increase from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is 53.15%.

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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