Mattern Capital Management LLC Acquires 5,573 Shares of Target Corporation $TGT

Key Points

• Mattern Capital Management LLC increased its stake in Target Corporation by 7.6% during Q2, acquiring an additional 5,573 shares, bringing its total holdings to 79,158 shares valued at approximately $7.81 million.
• Target has declared a quarterly dividend of $1.14 per share, set to be paid on December 1st, which is an increase from the previous $1.12 per share, reflecting a dividend yield of 5.1%.
• Analysts have mixed ratings on Target stock, with a current average rating of "Hold" and an average price target of $109.71, signaling a cautious outlook among investment analysts.

Mattern Capital Management LLC boosted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,158 shares of the retailer's stock after acquiring an additional 5,573 shares during the period. Mattern Capital Management LLC's holdings in Target were worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after buying an additional 102 shares in the last quarter. Guardian Wealth Advisors LLC boosted its holdings in shares of Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after buying an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer's stock valued at $126,000 after buying an additional 106 shares in the last quarter. Truvestments Capital LLC boosted its holdings in shares of Target by 21.4% in the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer's stock valued at $63,000 after buying an additional 107 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its holdings in shares of Target by 1.2% in the 1st quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer's stock valued at $1,012,000 after buying an additional 111 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

TGT opened at $89.52 on Friday. Target Corporation has a 12-month low of $86.30 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 $40.68 billion, a PE ratio of 10.43, a P/E/G ratio of 2.57 and a beta of 1.18. The firm has a 50 day moving average of $96.23 and a two-hundred day moving average of $97.63.

Target (NYSE:TGT - Get Free Report) last posted 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 analyst estimates of $24.84 billion. During the same period last year, the firm posted $2.57 EPS. Target's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on TGT shares. Barclays restated an "underweight" rating and issued a $91.00 price target on shares of Target in a report on Monday, July 21st. UBS Group lowered their price target on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Target in a research report on Thursday, August 21st. Finally, Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $109.71.

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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