Studio Investment Management LLC Buys 5,166 Shares of Target Corporation $TGT

Key Points

• Studio Investment Management LLC increased their position in Target Corporation by 108.3%, acquiring an additional 5,166 shares and bringing their total to 9,934 shares, valued at approximately $980,000.
• Target Corporation declared a quarterly dividend of $1.14, which represents a boost from the previous dividend of $1.12, and corresponds to an annualized dividend yield of 4.8%.
• Shares of Target opened at $94.45, with a 12-month trading range of a low of $85.36 to a high of $158.42, indicating some volatility in the stock's performance.

Studio Investment Management LLC grew its stake in Target Corporation (NYSE:TGT - Free Report) by 108.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,934 shares of the retailer's stock after purchasing an additional 5,166 shares during the period. Studio Investment Management LLC's holdings in Target were worth $980,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TGT. Kozak & Associates Inc. lifted its stake in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after acquiring an additional 253 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock worth $26,000 after acquiring an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in shares of Target during the 2nd quarter worth approximately $29,000. WPG Advisers LLC bought a new stake in shares of Target during the 1st quarter worth approximately $32,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Target during the 2nd quarter worth approximately $31,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TGT. Guggenheim reissued a "buy" rating and set a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Jefferies Financial Group decreased their price target on Target from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Bank of America reaffirmed an "underperform" rating and set a $93.00 target price (down from $105.00) on shares of Target in a research report on Friday, August 15th. Wolfe Research began coverage on Target in a research report on Thursday, September 18th. They set an "underperform" rating and a $80.00 target price for the company. Finally, Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Target has an average rating of "Hold" and a consensus target price of $109.00.

Target Trading Up 3.2%

Shares of NYSE:TGT opened at $94.45 on Wednesday. Target Corporation has a 12-month low of $85.36 and a 12-month high of $158.42. The business's fifty day simple moving average is $92.58 and its 200-day simple moving average is $96.33. The company has a market capitalization of $42.92 billion, a PE ratio of 11.01, a P/E/G ratio of 2.66 and a beta of 1.18. 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 announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the business posted $2.57 EPS. The business's revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio (DPR) is 53.15%.

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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