RFG Advisory LLC Buys 3,453 Shares of Target Corporation $TGT

Key Points

• RFG Advisory LLC increased its stake in Target Corporation by 79.7%, acquiring an additional 3,453 shares in the second quarter, bringing their total holdings to 7,784 shares valued at $768,000.
• Target recently increased its quarterly dividend to $1.14 per share, with a 5.0% yield, set to be paid on December 1st.
• The company's earnings for the last quarter exceeded expectations, reporting $2.05 EPS on revenues of $24.99 billion, although revenue was down 0.9% compared to the same quarter last year.

RFG Advisory LLC boosted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 79.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,784 shares of the retailer's stock after purchasing an additional 3,453 shares during the quarter. RFG Advisory LLC's holdings in Target were worth $768,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TGT. Raleigh Capital Management Inc. boosted its position in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after purchasing an additional 102 shares during the period. Kozak & Associates Inc. boosted its position in Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after purchasing an additional 253 shares during the period. Investment Research & Advisory Group Inc. bought a new stake in Target during the second quarter worth approximately $29,000. Global Assets Advisory LLC bought a new stake in Target during the second quarter worth approximately $31,000. Finally, WPG Advisers LLC bought a new stake in Target during the first quarter worth approximately $32,000. Institutional investors own 79.73% of the company's stock.

Target Stock Up 0.8%

Shares of TGT stock opened at $90.79 on Friday. The stock has a market cap of $41.25 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The stock has a fifty day moving average price of $93.07 and a 200 day moving average price of $96.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

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. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same period last year, the business 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 business also recently disclosed 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 is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, November 12th. Target's dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TGT. Jefferies Financial Group lowered their price objective on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Wolfe Research began coverage on shares of Target in a research note on Thursday, September 18th. They issued an "underperform" rating and a $80.00 price objective on the stock. Bank of America restated an "underperform" rating and issued a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Loop Capital set a $95.00 price objective on shares of Target in a research note on Thursday, July 17th. Finally, Wedbush restated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $109.00.

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.

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