Loudon Investment Management LLC Sells 7,385 Shares of Target Corporation $TGT

Key Points

• Loudon Investment Management LLC has significantly reduced its stake in Target Corporation by 72.9%, selling 7,385 shares, and now holds 2,747 shares valued at approximately $271,000.
• Target Corporation recently declared a quarterly dividend increase to $1.14, which provides shareholders with an annual yield of 5.1% and reflects a payout ratio of 53.15%.
• Analysts have varied ratings on Target's stock, with Citigroup raising its price target to $100 and Truist Financial proposing a target of $107, while Bank of America has downgraded its target from $105 to $93.

Loudon Investment Management LLC decreased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 72.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,747 shares of the retailer's stock after selling 7,385 shares during the quarter. Loudon Investment Management LLC's holdings in Target were worth $271,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TGT. Raleigh Capital Management Inc. lifted its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after purchasing an additional 102 shares during the period. Kozak & Associates Inc. increased its stake in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in shares of Target in the second quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Target in the first quarter worth $32,000. Finally, 1248 Management LLC acquired a new stake in shares of Target in the first quarter worth $38,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Wall Street Zen raised shares of Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Barclays reissued an "underweight" rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Truist Financial raised their price objective on shares of Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Finally, Bank of America restated an "underperform" rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Nine analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, Target currently has an average rating of "Hold" and an average price target of $110.48.

Target Stock Up 1.1%

Shares of Target stock opened at $89.82 on Wednesday. Target Corporation has a 52-week low of $86.30 and a 52-week high of $161.50. The company has a 50 day moving average of $96.93 and a 200 day moving average of $97.80. 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 capitalization of $40.81 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.56 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (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 company had revenue of $24.99 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $1.14 dividend. This is an increase 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%. The ex-dividend date is Wednesday, November 12th. Target's payout ratio is presently 53.15%.

Target 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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