Target Corporation $TGT Shares Acquired by Ridgewood Investments LLC

Key Points

• Ridgewood Investments LLC significantly increased its stake in Target Corporation by 1,479.1%, acquiring a total of 10,264 shares valued at approximately $1,013,000.
• Target recently declared a quarterly dividend of $1.14, up from $1.12, with a current dividend yield of 5.2% and a payout ratio of 53.15%.
• The company reported a net margin of 3.72% for the last quarter, with revenues declining by 0.9% year-over-year, despite beating EPS estimates of $2.04 with $2.05.

Ridgewood Investments LLC raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 1,479.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,264 shares of the retailer's stock after buying an additional 9,614 shares during the period. Ridgewood Investments LLC's holdings in Target were worth $1,013,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kozak & Associates Inc. raised its position in shares of 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. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter valued at $29,000. WPG Advisers LLC purchased a new position in Target in the 1st quarter worth about $32,000. 1248 Management LLC acquired a new stake in Target during the 1st quarter worth about $38,000. Finally, Heck Capital Advisors LLC purchased a new stake in Target during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

NYSE TGT opened at $88.12 on Monday. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $161.50. The stock's 50-day moving average is $99.10 and its two-hundred day moving average is $98.78. The firm has a market cap of $40.04 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16. 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 quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 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 analyst estimates of $24.84 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The firm's revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $1.14 dividend. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is 53.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on TGT. Barclays reissued an "underweight" rating and issued a $91.00 target price on shares of Target in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Telsey Advisory Group reissued a "market perform" rating and set a $110.00 target price on shares of Target in a research note on Wednesday, August 20th. Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Finally, Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.69.

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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