Target Corporation $TGT Shares Bought by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN has increased its stake in Target Corporation by 46.3% in Q2, holding 117,568 shares valued at approximately $11.6 million.
• Target reported $2.05 earnings per share for the last quarter, surpassing estimates, with total revenue of $24.99 billion, indicating a slight decline of 0.9% from the previous year.
• The company announced a quarterly dividend of $1.14 per share, reflecting a yield of 5.1%, up from its previous dividend of $1.12.

OLD National Bancorp IN boosted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 46.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 117,568 shares of the retailer's stock after acquiring an additional 37,221 shares during the period. OLD National Bancorp IN's holdings in Target were worth $11,598,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Berger Financial Group Inc raised its position in shares of Target by 3.6% in the second quarter. Berger Financial Group Inc now owns 6,116 shares of the retailer's stock valued at $603,000 after buying an additional 210 shares during the last quarter. Clarius Group LLC raised its position in shares of Target by 33.0% in the second quarter. Clarius Group LLC now owns 5,469 shares of the retailer's stock valued at $540,000 after buying an additional 1,358 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Target by 2.3% in the second quarter. Checchi Capital Advisers LLC now owns 5,493 shares of the retailer's stock valued at $542,000 after buying an additional 124 shares during the last quarter. Bank Hapoalim BM raised its position in shares of Target by 8.5% in the second quarter. Bank Hapoalim BM now owns 2,990 shares of the retailer's stock valued at $295,000 after buying an additional 235 shares during the last quarter. Finally, Corundum Group Inc. raised its position in shares of Target by 3.7% in the second quarter. Corundum Group Inc. now owns 6,665 shares of the retailer's stock valued at $658,000 after buying an additional 236 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Down 0.5%

Shares of TGT stock opened at $89.03 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm has a market cap of $40.46 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a 50-day moving average of $95.89 and a two-hundred day moving average of $97.48. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its 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 analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a boost from Target's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is 53.15%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Target in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Truist Financial cut their price objective on shares of Target from $102.00 to $83.00 and set a "hold" rating for the company in a research report on Thursday. Wolfe Research assumed coverage on shares of Target in a research report on Thursday, September 18th. They set an "underperform" rating and a $80.00 price objective for the company. Finally, UBS Group cut their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $109.71.

Target 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.

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