Perbak Capital Partners LLP Buys Shares of 3,156 Target Corporation $TGT

Key Points

• Perbak Capital Partners LLP invested $329,000 in Target Corporation, acquiring 3,156 shares, marking a new stake during the first quarter.
• Analysts have varying ratings on Target, with a consensus price target of $113.74 and mixed predictions on earnings growth, including a projected EPS of 8.69 for the current fiscal year.
• Target declared a quarterly dividend of $1.12, providing an annualized yield of 4.8%, with a payout ratio of 53.15%.

Perbak Capital Partners LLP bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,156 shares of the retailer's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Target during the fourth quarter worth $2,977,000. Brevan Howard Capital Management LP acquired a new stake in shares of Target during the fourth quarter worth $1,298,000. Bontempo Ohly Capital Mgmt LLC lifted its holdings in shares of Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares in the last quarter. Finally, Crestline Management LP acquired a new position in Target in the fourth quarter valued at about $2,779,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

NYSE TGT traded up $0.43 during trading on Friday, hitting $93.14. 4,890,485 shares of the company's stock were exchanged, compared to its average volume of 8,307,698. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The company has a market cap of $42.32 billion, a PE ratio of 10.85, a P/E/G ratio of 2.69 and a beta of 1.16. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $161.50. The stock's 50 day moving average price is $101.75 and its two-hundred day moving average price is $101.19.

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

Target Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on TGT shares. Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. UBS Group dropped their price target on Target from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Robert W. Baird set a $100.00 price target on Target in a research note on Thursday, May 22nd. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $113.74.

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.