JB Capital LLC Increases Holdings in Target Corporation $TGT

Key Points

• JB Capital LLC increased its holdings in Target Corporation by 41.8% during the second quarter, owning 33,207 shares valued at approximately $3.28 million.
• Target's quarterly earnings report showed an EPS of $2.05, slightly surpassing analysts' expectations, but revenue was down 0.9% year-over-year.
• The company has announced a quarterly dividend increase to $1.14 per share, reflecting a 5.1% dividend yield for investors.

JB Capital LLC lifted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 41.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,207 shares of the retailer's stock after buying an additional 9,795 shares during the period. JB Capital LLC's holdings in Target were worth $3,276,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kozak & Associates Inc. increased its stake in Target by 2,530.0% in 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 period. Raleigh Capital Management Inc. raised its holdings in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after acquiring an additional 102 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target in the second quarter worth $29,000. WPG Advisers LLC purchased a new stake in Target in the first quarter worth $32,000. Finally, Global Assets Advisory LLC purchased a new stake in Target in the second quarter worth $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 1.4%

Target stock opened at $89.12 on Friday. The stock has a market cap of $40.50 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a one year low of $86.30 and a one year high of $161.50. The stock has a fifty day moving average of $94.76 and a 200 day moving average of $97.09.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This is a positive change from Target's previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target's dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays reaffirmed an "underweight" rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Citigroup raised their price target on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Truist Financial dropped 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, October 2nd. Wall Street Zen upgraded Target from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Evercore ISI dropped their price target on Target from $105.00 to $103.00 and set an "in-line" rating on the stock in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $109.65.

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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