Norinchukin Bank The Purchases 3,427 Shares of Target Corporation $TGT

Key Points

• Norinchukin Bank The increased its holdings in Target Corporation by 15.7% during Q1, owning 25,209 shares worth approximately $2.63 million.
• In Q1, several large investors modified their holdings in Target, with Correct Capital Wealth Management boosting its stake by 44.7% and Chapin Davis Inc. increasing its holdings by 64.7%.
• Target recently announced a quarterly dividend of $1.12 per share, representing an annualized yield of 4.5%, with a payout ratio currently at 50.11%.

Norinchukin Bank The boosted its stake in Target Corporation (NYSE:TGT - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,209 shares of the retailer's stock after purchasing an additional 3,427 shares during the quarter. Norinchukin Bank The's holdings in Target were worth $2,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TGT. Charles Schwab Investment Management Inc. grew its holdings in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after buying an additional 3,065,035 shares during the last quarter. Nuveen LLC acquired a new position in shares of Target during the first quarter valued at about $186,361,000. Ameriprise Financial Inc. grew its holdings in shares of Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after buying an additional 1,506,275 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after buying an additional 1,406,653 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

TGT stock traded up $1.78 during mid-day trading on Wednesday, hitting $97.89. The company had a trading volume of 6,119,814 shares, compared to its average volume of 7,130,700. The firm has a market cap of $44.48 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 2.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. The stock's fifty day moving average price is $102.08 and its two-hundred day moving average price is $103.13.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The company'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. On average, 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 given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. Target's payout ratio is 53.15%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TGT. UBS Group reduced their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Piper Sandler restated a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Wedbush restated an "outperform" rating on shares of Target in a report on Thursday, July 17th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Target currently has an average rating of "Hold" and an average price target 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.