Okabena Investment Services Inc. Purchases 34,588 Shares of Target Corporation $TGT

Key Points

• Okabena Investment Services Inc. increased its stake in Target Corporation by 20.8%, owning over 201,000 shares valued at approximately $21 million.
• Target's stock performance is under scrutiny, with analysts having varying ratings; the average target price is currently $113.74, and the company has reported a decrease in revenue by 0.9% compared to the previous year.
• The company announced a quarterly dividend of $1.12 per share, reflecting an annualized yield of 4.6%, with a payout ratio of 53.15%.

Okabena Investment Services Inc. grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,090 shares of the retailer's stock after buying an additional 34,588 shares during the quarter. Target accounts for 5.3% of Okabena Investment Services Inc.'s investment portfolio, making the stock its 3rd largest position. Okabena Investment Services Inc.'s holdings in Target were worth $20,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at approximately $29,000. Heck Capital Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at approximately $40,000. Atwood & Palmer Inc. increased its position in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of Target during the first quarter worth approximately $43,000. Finally, Curat Global LLC purchased a new stake in shares of Target during the first quarter worth approximately $47,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Down 0.8%

Shares of Target stock traded down $0.82 during trading hours on Monday, hitting $95.99. The company's stock had a trading volume of 5,357,588 shares, compared to its average volume of 7,984,187. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.50. The firm has a fifty day moving average of $102.17 and a 200-day moving average of $102.25. The stock has a market cap of $43.62 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.77 and a beta of 1.16. 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 (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate 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 company posted $2.57 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current 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 $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several research reports. DA Davidson dropped their price target on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and set a $115.00 price target on shares of Target in a research report on Thursday, August 21st. Mizuho dropped their price target on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Telsey Advisory Group reiterated a "market perform" rating and set a $110.00 price target on shares of Target in a research report on Wednesday, August 20th. Finally, Wedbush reiterated an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $113.74.

Target Company Profile

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.