Petrus Trust Company LTA Buys New Position in Target Corporation $TGT

Key Points

• Petrus Trust Company LTA acquired 8,704 shares of Target Corporation during the first quarter, representing a new stake valued at approximately $908,000.
• Target's recent earnings report showed an EPS of $2.05, surpassing estimates, with revenue of $24.99 billion, though the revenue is down 0.9% year-over-year.
• The company declared a quarterly dividend of $1.12 per share, yielding 4.8%, with a dividend payout ratio of 53.15%.

Petrus Trust Company LTA acquired a new position in Target Corporation (NYSE:TGT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,704 shares of the retailer's stock, valued at approximately $908,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Target by 407.8% during 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Target by 35.5% during the first 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 last quarter. Dimensional Fund Advisors LP increased its position in shares of Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock valued at $542,020,000 after acquiring an additional 370,967 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Target by 14.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,798,816 shares of the retailer's stock valued at $513,524,000 after purchasing an additional 477,761 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after purchasing an additional 3,065,035 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TGT. Jefferies Financial Group reduced their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Citigroup boosted their price objective on shares of Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. 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 report on Thursday, August 21st. Evercore ISI lowered their target price on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, August 21st. Finally, BMO Capital Markets reduced their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. 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 data from MarketBeat, Target has a consensus rating of "Hold" and an average target price of $113.74.

Target Trading Down 0.6%

Shares of TGT stock traded down $0.55 during trading hours on Tuesday, hitting $90.95. 7,506,328 shares of the company were exchanged, compared to its average volume of 8,589,760. The firm has a fifty day moving average of $101.34 and a 200 day moving average of $100.71. Target Corporation has a 1 year low of $87.35 and a 1 year high of $161.50. 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 has a market cap of $41.33 billion, a PE ratio of 10.60, a PEG ratio of 2.64 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for 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 company's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 earnings per share 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 issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Wednesday, August 13th. Target's dividend payout ratio (DPR) is 53.15%.

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.