Jacobi Capital Management LLC Increases Stake in Target Corporation $TGT

Key Points

• Jacobi Capital Management LLC has increased its stake in Target Corporation by 16.7%, acquiring an additional 4,780 shares during the first quarter, bringing their total holdings to 33,342 shares valued at approximately $3.48 million.
• Target's latest quarterly earnings report revealed an EPS of $2.05, slightly exceeding analyst expectations, along with a revenue of $24.99 billion, although this reflects a 0.9% decline year-over-year.
• Several investment firms have adjusted their ratings on Target, with Bank of America lowering its price target to $93.00 and Wells Fargo decreasing theirs to $115.00, indicating a mixed outlook among analysts.

Jacobi Capital Management LLC increased its position in Target Corporation (NYSE:TGT - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,342 shares of the retailer's stock after acquiring an additional 4,780 shares during the quarter. Jacobi Capital Management LLC's holdings in Target were worth $3,480,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter worth about $29,000. Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter worth about $40,000. WPG Advisers LLC purchased a new stake in Target in the 1st quarter worth about $32,000. Mascagni Wealth Management Inc. purchased a new stake in Target in the 4th quarter worth about $49,000. Finally, 1248 Management LLC purchased a new stake in Target in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Down 0.1%

Shares of NYSE TGT opened at $90.81 on Thursday. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. 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 $41.26 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 2.62 and a beta of 1.16. The business has a 50-day moving average of $101.05 and a 200-day moving average of $100.64.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 during 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. Target's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent research reports. Bank of America reissued an "underperform" rating and issued a $93.00 price objective (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Wells Fargo & Company decreased their price objective on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Barclays reaffirmed an "underweight" rating and set a $91.00 target price on shares of Target in a report on Monday, July 21st. Finally, Guggenheim reaffirmed a "buy" rating and set a $115.00 target price on shares of Target in a report on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $113.74.

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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