Free Trial

Probity Advisors Inc. Boosts Holdings in Target Corporation $TGT

Target logo with Retail/Wholesale background

Key Points

  • Probity Advisors Inc. increased its holdings in Target Corporation by 29.9%, owning 12,489 shares worth approximately $1.23 million after acquiring an additional 2,876 shares in the second quarter.
  • Target recently announced a higher quarterly dividend of $1.14 per share, yielding 5.0%, with a payout date set for December 1st.
  • Target's earnings results showed an EPS of $2.05, slightly exceeding consensus estimates, but the company reported a 0.9% decline in quarterly revenue compared to the previous year.
  • Interested in Target? Here are five stocks we like better.

Probity Advisors Inc. raised its position in Target Corporation (NYSE:TGT - Free Report) by 29.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,489 shares of the retailer's stock after buying an additional 2,876 shares during the period. Probity Advisors Inc.'s holdings in Target were worth $1,232,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TGT. Raleigh Capital Management Inc. raised its holdings in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. raised 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 acquiring an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Target during the second quarter valued at approximately $29,000. Global Assets Advisory LLC acquired a new position in shares of Target during the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Target during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on TGT shares. Wolfe Research started coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 price objective for the company. Bank of America reaffirmed an "underperform" rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. BTIG Research started coverage on shares of Target in a research note on Tuesday, October 14th. They set a "neutral" rating for the company. Evercore ISI dropped their price objective on shares of Target from $103.00 to $100.00 and set an "in-line" rating for the company in a research note on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Target in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $109.00.

Check Out Our Latest Stock Report on Target

Target Price Performance

Shares of TGT stock opened at $91.61 on Tuesday. 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 firm's 50-day moving average is $92.82 and its two-hundred day moving average is $96.34. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42. The company has a market capitalization of $41.63 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

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 analysts' consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the firm earned $2.57 earnings per share. Target's quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts predict 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 paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. This is a boost from Target's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is presently 53.15%.

About Target

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Target (NYSE:TGT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Target Right Now?

Before you consider Target, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Target wasn't on the list.

While Target currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2025 Cover

Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.

Get This Free Report
Like this article? Share it with a colleague.