Park Place Capital Corp Raises Stock Holdings in Target Corporation $TGT

Key Points

• Park Place Capital Corp increased its holdings in Target Corporation by 179.8% during the second quarter, bringing its total shares to 8,852, valued at approximately $919,000.
• Target Corporation announced a quarterly dividend of $1.14 per share, reflecting an increase from its previous dividend of $1.12, with an annual yield of 5.1%.
• Target reported $2.05 earnings per share for the last quarter, slightly exceeding analysts' estimates and generating $24.99 billion in revenue, despite a year-over-year decline.

Park Place Capital Corp boosted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 179.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 8,852 shares of the retailer's stock after acquiring an additional 5,688 shares during the quarter. Park Place Capital Corp's holdings in Target were worth $919,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Target in the 2nd quarter worth approximately $595,839,000. Pacer Advisors Inc. increased its holdings in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after buying an additional 3,065,035 shares during the period. Nuveen LLC purchased a new position in Target during the 1st quarter worth approximately $186,361,000. Finally, Goldman Sachs Group Inc. lifted its stake in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after acquiring an additional 1,406,653 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Trading Up 1.0%

Shares of TGT stock opened at $88.75 on Tuesday. The stock has a 50 day simple moving average of $97.27 and a 200-day simple moving average of $97.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The company has a market cap of $40.33 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.53 and a beta of 1.16. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal 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 issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target's previous quarterly dividend of $1.12. Target's payout ratio is 53.15%.

Analyst Upgrades and Downgrades

Several analysts have commented on TGT shares. Telsey Advisory Group restated a "market perform" rating and set a $110.00 price objective on shares of Target in a research note on Wednesday, August 20th. UBS Group decreased 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. Bank of America restated an "underperform" rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research note on Friday, August 15th. Zacks Research upgraded shares of Target from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Evercore ISI decreased their price objective on shares of Target from $106.00 to $105.00 and set an "in-line" rating for the company in a research note on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $110.48.

Target 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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