Jacobs Levy Equity Management Inc. Has $165.90 Million Stock Holdings in Target Corporation $TGT

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Target Corporation by 111.1% in the first quarter, acquiring an additional 836,676 shares to own a total of 1,589,661 shares.
• Target Corporation reported a quarterly earnings per share (EPS) of $2.05, which slightly beat expectations, although revenue fell 0.9% year-over-year to $24.99 billion.
• Target declared a quarterly dividend of $1.12 per share, representing an annualized dividend of $4.48 and a yield of 4.8%.

Jacobs Levy Equity Management Inc. lifted its stake in Target Corporation (NYSE:TGT - Free Report) by 111.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,589,661 shares of the retailer's stock after purchasing an additional 836,676 shares during the period. Target accounts for 0.7% of Jacobs Levy Equity Management Inc.'s portfolio, making the stock its 28th largest position. Jacobs Levy Equity Management Inc. owned 0.35% of Target worth $165,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Target in the fourth quarter valued at approximately $40,000. WPG Advisers LLC bought a new position in Target in the first quarter valued at approximately $32,000. Mascagni Wealth Management Inc. bought a new position in Target in the fourth quarter valued at approximately $49,000. Finally, 1248 Management LLC bought a new position in Target in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Down 0.6%

Shares of NYSE:TGT traded down $0.55 during midday trading on Tuesday, reaching $90.95. 7,370,632 shares of the company were exchanged, compared to its average volume of 7,157,331. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week 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 stock has a fifty day simple moving average of $101.60 and a two-hundred day simple moving average of $100.77. The firm has a market cap of $41.33 billion, a PE ratio of 10.60, a P/E/G ratio of 2.69 and a beta of 1.16.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the business posted $2.57 earnings per share. The firm'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. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, August 13th. Target's payout ratio is presently 53.15%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TGT shares. Mizuho reduced their price objective on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. The Goldman Sachs Group reduced their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. BMO Capital Markets reduced their price objective 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. Loop Capital set a $95.00 price objective on shares of Target in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada raised their price objective on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of "Hold" and an average 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.