Panagora Asset Management Inc. Has $41.49 Million Holdings in Target Corporation $TGT

Key Points

• Panagora Asset Management Inc. increased its position in Target Corporation by 39.7%, owning 397,514 shares with a total value of approximately $41.49 million.
• Target reported earnings of $2.05 per share for the last quarter, which exceeded analyst expectations, although revenue declined by 0.9% year-over-year.
• The company announced a $1.12 quarterly dividend, yielding 4.7%, with a payout ratio of 53.15% and a payment date set for September 1st.

Panagora Asset Management Inc. increased its stake in Target Corporation (NYSE:TGT - Free Report) by 39.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,514 shares of the retailer's stock after purchasing an additional 112,881 shares during the period. Panagora Asset Management Inc. owned 0.09% of Target worth $41,485,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after buying an additional 3,059 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Target in the 4th quarter valued at $328,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Target in the 4th quarter valued at $11,517,000. Accredited Wealth Management LLC acquired a new position in shares of Target in the 4th quarter valued at $202,000. Finally, Arrowroot Family Office LLC grew its holdings in shares of Target by 16.5% in the 4th quarter. Arrowroot Family Office LLC now owns 2,313 shares of the retailer's stock valued at $313,000 after buying an additional 328 shares during the period. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TGT. Jefferies Financial Group decreased their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Piper Sandler reissued a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Morgan Stanley cut their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Finally, Zacks Research raised shares of Target from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $113.74.

Target Stock Performance

Shares of TGT stock traded up $0.20 on Thursday, reaching $92.55. The stock had a trading volume of 4,011,733 shares, compared to its average volume of 7,144,023. 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 firm's 50-day moving average is $101.97 and its two-hundred day moving average is $101.89. The firm has a market capitalization of $42.05 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 2.77 and a beta of 1.16. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced 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 net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the prior year, the business earned $2.57 EPS. Target'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. On average, research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Wednesday, August 13th were paid a $1.12 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.8%. Target's dividend payout ratio is 53.15%.

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.