PDT Partners LLC Acquires New Stake in Target Corporation $TGT

Key Points

• PDT Partners LLC acquired a new stake in Target Corporation, purchasing 44,300 shares valued at approximately $4,623,000.
• Target's quarterly earnings report showed an EPS of $2.05, slightly beating estimates, but revenue was down 0.9% year-over-year.
• The company has announced a quarterly dividend of $1.12 per share, with an annualized yield of 4.7%.

PDT Partners LLC bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 44,300 shares of the retailer's stock, valued at approximately $4,623,000.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Brighton Jones LLC raised its stake in 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 purchasing an additional 3,059 shares during the last quarter. Freestone Grove Partners LP acquired a new position in Target in the fourth quarter valued at about $328,000. ArrowMark Colorado Holdings LLC lifted its position in Target by 4,476.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 102,234 shares of the retailer's stock valued at $13,820,000 after buying an additional 100,000 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in Target by 384.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 37,489 shares of the retailer's stock worth $5,068,000 after buying an additional 29,751 shares during the period. Finally, Ancora Advisors LLC increased its stake in Target by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock worth $1,402,000 after buying an additional 92 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 0.5%

TGT stock traded up $0.43 during midday trading on Friday, reaching $93.14. 4,890,485 shares of the company were exchanged, compared to its average volume of 8,307,698. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.50. The stock's 50-day simple moving average is $101.75 and its 200 day simple moving average is $101.40. The company has a market cap of $42.32 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.8%. Target's dividend payout ratio (DPR) is 53.15%.

Analyst Ratings Changes

TGT has been the topic of several analyst reports. Loop Capital set a $95.00 target price on shares of Target in a report on Thursday, July 17th. Morgan Stanley reduced their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Truist Financial raised their target price on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets reduced their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Ten 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 MarketBeat, Target presently has a consensus rating of "Hold" and a consensus price target of $113.74.

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.