Boston Partners Purchases 16,120 Shares of Target Corporation $TGT

Key Points

• Boston Partners has increased its holdings in Target Corporation by 15%, bringing their total shares to 123,748, valued at approximately $12.9 million.
• Several analysts have adjusted their price targets on TGT, with Citigroup lowering its target from $97 to $94 and Bank of America dropping theirs from $105 to $93, indicating a cautious outlook for the stock.
• Target recently announced a quarterly dividend of $1.12 per share, reflecting a yield of 4.3%, with the payout expected to contribute to shareholder returns.

Boston Partners grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,748 shares of the retailer's stock after buying an additional 16,120 shares during the quarter. Boston Partners' holdings in Target were worth $12,914,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. DSG Capital Advisors LLC raised its stake in shares of Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock valued at $16,347,000 after buying an additional 21,726 shares in the last quarter. Viking Fund Management LLC grew its holdings 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 purchasing an additional 10,000 shares during the last quarter. Correct Capital Wealth Management grew its holdings 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 purchasing an additional 4,189 shares during the last quarter. Chapin Davis Inc. grew its holdings in shares of Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after purchasing an additional 3,342 shares during the last quarter. Finally, CMH Wealth Management LLC grew its holdings in shares of Target by 31.5% in the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock worth $6,410,000 after purchasing an additional 14,719 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Wedbush reaffirmed an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Loop Capital set a $95.00 target price on shares of Target in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, DA Davidson dropped their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $115.42.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Target Stock Down 6.3%

Shares of TGT traded down $6.6240 during mid-day trading on Wednesday, hitting $98.7360. 25,315,426 shares of the company's stock were exchanged, compared to its average volume of 7,029,852. The company has a market cap of $44.86 billion, a PE ratio of 10.85, a P/E/G ratio of 3.03 and a beta of 1.22. Target Corporation has a 52 week low of $87.35 and a 52 week high of $167.40. The company has a 50-day simple moving average of $102.02 and a 200 day simple moving average of $104.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 50.11%.

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.