Mutual Advisors LLC Raises Stake in Target Corporation $TGT

Key Points

• Mutual Advisors LLC has increased its stake in Target Corporation by 32.9% during the second quarter, owning 62,058 shares valued at approximately $6.58 million.
• Target recently raised its quarterly dividend to $1.14 per share, reflecting an annualized yield of 5.0% and a payout ratio of 53.15%.
• The company reported a net margin of 3.72% for the last quarter, with revenue of $24.99 billion, slightly exceeding analysts' expectations.

Mutual Advisors LLC raised its position in Target Corporation (NYSE:TGT - Free Report) by 32.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,058 shares of the retailer's stock after acquiring an additional 15,372 shares during the quarter. Mutual Advisors LLC's holdings in Target were worth $6,581,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Granite Group Advisors LLC lifted its position in shares of Target by 145.7% during the 2nd quarter. Granite Group Advisors LLC now owns 23,288 shares of the retailer's stock worth $2,297,000 after buying an additional 13,811 shares during the last quarter. Edmp Inc. purchased a new stake in shares of Target during the 2nd quarter worth approximately $251,000. RFG Advisory LLC lifted its position in shares of Target by 79.7% during the 2nd quarter. RFG Advisory LLC now owns 7,784 shares of the retailer's stock worth $768,000 after buying an additional 3,453 shares during the last quarter. Community Bank N.A. lifted its position in shares of Target by 11.4% during the 2nd quarter. Community Bank N.A. now owns 24,012 shares of the retailer's stock worth $2,369,000 after buying an additional 2,461 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in shares of Target during the 2nd quarter worth approximately $239,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Performance

Shares of TGT opened at $90.96 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a market capitalization of $41.33 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.59 and a beta of 1.18. The company's fifty day moving average is $93.67 and its two-hundred day moving average is $96.61. Target Corporation has a 1 year low of $85.36 and a 1 year high of $160.79.

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

Target Increases Dividend

The company also recently disclosed 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 represents a $4.56 annualized dividend and a yield of 5.0%. This is an increase from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Evercore ISI reduced their price objective on shares of Target from $103.00 to $100.00 and set an "in-line" rating for the company in a research report on Tuesday. Telsey Advisory Group restated a "market perform" rating and set a $110.00 price objective on shares of Target in a research report on Wednesday, August 20th. Barclays reaffirmed an "underweight" rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Finally, Loop Capital set a $95.00 target price on shares of Target in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.