Infusive Asset Management Inc. Buys New Holdings in Target Corporation $TGT

Key Points

• Infusive Asset Management Inc. has made a new investment in Target Corporation, acquiring 15,461 shares valued at approximately $1.61 million in the first quarter.
• Target recently reported $2.05 earnings per share, exceeding analysts' expectations, but noted a 0.9% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.12 per share, translating to an annual yield of 4.8%, with a payout ratio of 53.15%.

Infusive Asset Management Inc. bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,461 shares of the retailer's stock, valued at approximately $1,614,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock worth $542,020,000 after acquiring an additional 370,967 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Target by 14.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,798,816 shares of the retailer's stock worth $513,524,000 after acquiring an additional 477,761 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Up 0.5%

Shares of TGT stock traded up $0.43 on Friday, hitting $93.14. The stock had a trading volume of 4,890,485 shares, compared to its average volume of 8,377,683. The business has a 50 day moving average price of $101.75 and a 200 day moving average price of $101.00. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company has a market cap of $42.32 billion, a PE ratio of 10.85, a P/E/G ratio of 2.69 and a beta of 1.16.

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

Target Dividend Announcement

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

Analyst Ratings Changes

TGT has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Barclays reissued an "underweight" rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Robert W. Baird set a $100.00 price objective on shares of Target in a report on Thursday, May 22nd. Royal Bank Of Canada boosted their price target on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Guggenheim restated a "buy" rating and issued a $115.00 price target on shares of Target in a research report on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $113.74.

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.