Target Corporation $TGT Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Target Corporation by 6.0%, owning approximately 4.03 million shares, valued at $420.4 million.
• Target's stock has faced downward pressure with several analysts cutting their price targets; Morgan Stanley reduced its target from $160 to $112.
• The company declared a quarterly dividend of $1.12 per share, translating to an annualized yield of 4.9%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,028,486 shares of the retailer's stock after purchasing an additional 229,670 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.89% of Target worth $420,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimize Financial Inc purchased a new position in shares of Target during the 1st quarter valued at approximately $431,000. Woodline Partners LP increased its holdings in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock valued at $4,040,000 after purchasing an additional 11,047 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Target by 24.7% during the 1st quarter. Empowered Funds LLC now owns 176,436 shares of the retailer's stock valued at $18,413,000 after purchasing an additional 34,978 shares in the last quarter. Logan Capital Management Inc. increased its holdings in shares of Target by 6.8% during the 1st quarter. Logan Capital Management Inc. now owns 51,439 shares of the retailer's stock valued at $5,368,000 after purchasing an additional 3,287 shares in the last quarter. Finally, Peloton Wealth Strategists increased its holdings in shares of Target by 33.4% during the 1st quarter. Peloton Wealth Strategists now owns 18,925 shares of the retailer's stock valued at $1,975,000 after purchasing an additional 4,735 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TGT shares. Morgan Stanley cut their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company cut their target price on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. BMO Capital Markets cut their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. Jefferies Financial Group cut their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Robert W. Baird set a $100.00 price target on shares of Target in a report on Thursday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $113.74.

Target Price Performance

Target stock opened at $90.95 on Wednesday. Target Corporation has a 52-week low of $87.35 and a 52-week high of $161.50. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.64 and a beta of 1.16. The company has a fifty day simple moving average of $101.34 and a 200-day simple moving average of $100.71. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the prior year, the firm earned $2.57 earnings per share. The company's revenue for the quarter 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, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, August 13th. Target's payout ratio is presently 53.15%.

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.

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