Stance Capital LLC Buys 29,302 Shares of Target Corporation $TGT

Key Points

• Stance Capital LLC significantly increased its stake in Target Corporation by 325,577.8% during Q1, holding 29,311 shares with a value of approximately $3.06 million.
• Target reported a $2.05 EPS for the last quarterly earnings, slightly exceeding estimates, but its revenue experienced a 0.9% decline year-over-year.
• The retail giant announced a quarterly dividend of $1.12 per share, reflecting an annualized yield of 4.8% and a payout ratio of 53.15%.

Stance Capital LLC boosted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 325,577.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,311 shares of the retailer's stock after buying an additional 29,302 shares during the quarter. Target makes up approximately 2.2% of Stance Capital LLC's portfolio, making the stock its 22nd biggest position. Stance Capital LLC's holdings in Target were worth $3,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Punch & Associates Investment Management Inc. lifted its holdings in Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer's stock worth $8,786,000 after buying an additional 27,329 shares during the period. DSG Capital Advisors LLC lifted its holdings in Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after buying an additional 21,726 shares during the period. Viking Fund Management LLC raised its position in shares of Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after acquiring an additional 10,000 shares in the last quarter. Correct Capital Wealth Management raised its position in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after acquiring an additional 4,189 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Target in the 1st quarter worth about $4,623,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 0.1%

Target stock traded down $0.10 during midday trading on Wednesday, reaching $90.81. The stock had a trading volume of 5,738,974 shares, compared to its average volume of 7,150,310. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. The company has a market capitalization of $41.26 billion, a P/E ratio of 10.58, a PEG ratio of 2.64 and a beta of 1.16. The company has a fifty day moving average price of $101.34 and a two-hundred day moving average price of $100.71. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, August 13th. Target's payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. UBS Group lowered their price objective on Target from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Bank of America reissued an "underperform" rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Barclays reissued an "underweight" rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Finally, DA Davidson lowered their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.