Paralel Advisors LLC Raises Stake in Target Corporation $TGT

Key Points

• Paralel Advisors LLC increased its stake in Target Corporation by 80.7%, now owning 25,600 shares valued at $2.525 million.
• Target has announced a quarterly dividend of $1.14, reflecting an increase from the previous $1.12, providing a yield of 4.8%.
• Equity analysts have mixed ratings on Target, with nine analysts rating it as a "Buy" and four analysts giving it a "Sell" rating, resulting in an average target price of $109.00.

Paralel Advisors LLC increased its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 80.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,600 shares of the retailer's stock after acquiring an additional 11,431 shares during the period. Paralel Advisors LLC's holdings in Target were worth $2,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kozak & Associates Inc. lifted its holdings in shares of Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Target by 63.4% during 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. Investment Research & Advisory Group Inc. bought a new position in Target during the 2nd quarter valued at approximately $29,000. WPG Advisers LLC purchased a new position in Target during the first quarter valued at $32,000. Finally, Global Assets Advisory LLC bought a new stake in Target in the second quarter worth $31,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TGT shares. Wedbush restated an "outperform" rating on shares of Target in a report on Thursday, July 17th. UBS Group reduced their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. DA Davidson decreased their target price on shares of Target from $115.00 to $108.00 and set a "buy" rating for the company in a report on Monday, October 13th. Truist Financial cut their price target on shares of Target from $102.00 to $83.00 and set a "hold" rating on the stock in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Target in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $109.00.

Target Trading Down 0.4%

Shares of TGT stock opened at $94.04 on Thursday. 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 Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. The stock has a market capitalization of $42.73 billion, a P/E ratio of 10.96, a P/E/G ratio of 2.75 and a beta of 1.18. The firm's 50 day moving average is $92.36 and its 200 day moving average is $96.31.

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

Target Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 4.8%. Target's 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.

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