Mirae Asset Global Investments Co. Ltd. Acquires 48,002 Shares of Target Corporation $TGT

Key Points

• Mirae Asset Global Investments increased its stake in Target Corporation by 10.8% in Q2, acquiring an additional 48,002 shares for a total of 494,346 shares valued at approximately $48.77 million.
• Target Corporation recently declared a quarterly dividend of $1.14, an increase from the previous $1.12, posting a 5.1% dividend yield based on an annualized payout.
• The company's quarterly earnings report showed a slight revenue decline year-over-year, with EPS of $2.05 surpassing analyst estimates, while setting a FY 2025 EPS guidance range of $7.00 to $9.00.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 10.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 494,346 shares of the retailer's stock after purchasing an additional 48,002 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Target worth $48,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Brighton Jones LLC lifted its stake in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. NBC Securities Inc. lifted its stake in Target by 208,850.0% during the first quarter. NBC Securities Inc. now owns 4,179 shares of the retailer's stock worth $436,000 after purchasing an additional 4,177 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Target by 4.1% during the first quarter. LS Investment Advisors LLC now owns 16,910 shares of the retailer's stock worth $1,765,000 after purchasing an additional 670 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Target by 16.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,906 shares of the retailer's stock worth $616,000 after purchasing an additional 828 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its stake in Target by 13.1% during the first quarter. Chesley Taft & Associates LLC now owns 9,756 shares of the retailer's stock worth $1,018,000 after purchasing an additional 1,130 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 0.4%

NYSE TGT opened at $89.52 on Friday. The business's 50-day moving average price is $96.23 and its two-hundred day moving average price is $97.63. Target Corporation has a 12 month low of $86.30 and a 12 month high of $161.50. The firm has a market capitalization of $40.68 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 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 for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the company posted $2.57 EPS. The business's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business 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 $1.14 dividend. This is a boost 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TGT shares. UBS Group dropped their price target on Target from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. Zacks Research upgraded Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Citigroup increased their price target on Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Wedbush reiterated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Nine research 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 stock. Based on data from MarketBeat.com, Target currently has an average rating of "Hold" and an average target price 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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