Lbp Am Sa Acquires Shares of 55,008 Target Corporation $TGT

Key Points

• Lbp Am Sa acquired 55,008 shares of Target Corporation (TGT) for approximately $5.43 million during the second quarter.
• Target announced a quarterly dividend increase to $1.14, with a yield of 5.1%, set to be paid on December 1st.
• Target's recent earnings report showed a net margin of 3.72% with earnings per share of $2.05, exceeding estimates.

Lbp Am Sa acquired a new stake in Target Corporation (NYSE:TGT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 55,008 shares of the retailer's stock, valued at approximately $5,427,000.

Several other institutional investors have also recently bought and sold shares of TGT. Victrix Investment Advisors raised its position in shares of Target by 33.0% during the second quarter. Victrix Investment Advisors now owns 17,961 shares of the retailer's stock worth $1,772,000 after acquiring an additional 4,459 shares during the last quarter. Columbia Asset Management raised its position in shares of Target by 9.6% during the second quarter. Columbia Asset Management now owns 40,202 shares of the retailer's stock worth $3,966,000 after acquiring an additional 3,535 shares during the last quarter. Cooper Financial Group bought a new stake in shares of Target during the second quarter worth $263,000. Park Place Capital Corp raised its position in shares of Target by 179.8% during the second quarter. Park Place Capital Corp now owns 8,852 shares of the retailer's stock worth $919,000 after acquiring an additional 5,688 shares during the last quarter. Finally, XML Financial LLC raised its position in shares of Target by 14.4% during the second quarter. XML Financial LLC now owns 2,388 shares of the retailer's stock worth $236,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 79.73% of the company's stock.

Target Stock Down 0.6%

NYSE:TGT opened at $89.20 on Thursday. Target Corporation has a 1 year low of $86.30 and a 1 year 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 stock has a market cap of $40.53 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.59 and a beta of 1.18. The stock has a 50-day moving average price of $96.56 and a two-hundred day moving average price of $97.74.

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 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 firm had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the previous year, the firm earned $2.57 earnings per share. The company's 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, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

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

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. Citigroup boosted their target price on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Evercore ISI dropped their target price on Target from $106.00 to $105.00 and set an "in-line" rating for the company in a research report on Tuesday, September 23rd. Telsey Advisory Group restated a "market perform" rating and set a $110.00 target price on shares of Target in a research report on Wednesday, August 20th. Barclays reiterated an "underweight" rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Finally, Royal Bank Of Canada upped their price objective on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $110.48.

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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