Target Corporation $TGT Shares Purchased by Country Club Bank

Key Points

• Country Club Bank increased its stake in Target Corporation by 52.2%, now owning 52,465 shares worth approximately $5.2 million, as reported in their latest SEC filing.
• Analysts have varied opinions on Target's stock, with Bank of America lowering its price target to $93.00, while Guggenheim set a higher target of $115.00, reflecting a range of evaluations on the company's performance.
• Target announced a quarterly dividend increase to $1.14 from the previous $1.12, representing a 5.1% yield and a payout ratio of 53.15%, to be paid on December 1st.

Country Club Bank grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 52.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,465 shares of the retailer's stock after purchasing an additional 17,989 shares during the quarter. Country Club Bank's holdings in Target were worth $5,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TGT. Raleigh Capital Management Inc. grew its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. boosted its stake in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of Target during the second quarter worth about $29,000. Global Assets Advisory LLC acquired a new stake in shares of Target during the second quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TGT shares. Bank of America restated an "underperform" rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Truist Financial cut their target price on shares of Target from $102.00 to $83.00 and set a "hold" rating on the stock in a report on Thursday. Wedbush reiterated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Finally, Guggenheim restated a "buy" rating and issued a $115.00 price objective on shares of Target in a research note on Thursday, August 21st. Nine 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 data from MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus target price of $109.71.

Target Stock Down 0.0%

Target stock opened at $89.00 on Tuesday. The stock's 50 day moving average price is $95.54 and its 200 day moving average price is $97.32. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The company has a market cap of $40.44 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. 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 released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

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