The Manufacturers Life Insurance Company Buys 45,464 Shares of Target Corporation $TGT

Key Points

• The Manufacturers Life Insurance Company increased its stake in Target Corporation by 8.5% during the first quarter, acquiring an additional 45,464 shares, bringing its total to 581,281 shares worth $60,662,000.
• Despite mixed ratings from analysts, with some setting target prices ranging from $82.00 to $107.00, the stock has an average rating of "Hold" and a consensus price target of $113.74.
• Target recently announced a quarterly dividend of $1.12 per share, yielding 4.7%, with the dividend payment set for September 1st and a payout ratio of 53.15%.

The Manufacturers Life Insurance Company boosted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 581,281 shares of the retailer's stock after buying an additional 45,464 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of Target worth $60,662,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Magnetar Financial LLC acquired a new position in Target during the first quarter worth $3,865,000. WPG Advisers LLC acquired a new position in Target during the 1st quarter worth $32,000. Smead Capital Management Inc. lifted its position in Target by 9.9% during the 1st quarter. Smead Capital Management Inc. now owns 1,638,296 shares of the retailer's stock worth $170,973,000 after acquiring an additional 147,139 shares during the last quarter. Okabena Investment Services Inc. lifted its position in Target by 20.8% during the 1st quarter. Okabena Investment Services Inc. now owns 201,090 shares of the retailer's stock worth $20,986,000 after acquiring an additional 34,588 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in Target by 21.4% during the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer's stock worth $63,000 after acquiring an additional 107 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 0.2%

NYSE:TGT traded up $0.20 during mid-day trading on Thursday, hitting $92.55. 4,011,733 shares of the company's stock were exchanged, compared to its average volume of 7,144,023. Target Corporation has a one year low of $87.35 and a one year high of $161.50. 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 business has a fifty day moving average price of $101.97 and a 200 day moving average price of $101.89. The company has a market cap of $42.05 billion, a PE ratio of 10.78, a P/E/G ratio of 2.77 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 business 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. Target'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. Equities analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 53.15%.

Wall Street Analyst Weigh In

TGT has been the topic of several research analyst reports. Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Jefferies Financial Group decreased their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Wedbush restated an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Barclays reaffirmed an "underweight" rating and issued a $91.00 target price on shares of Target in a research report on Monday, July 21st. Finally, Evercore ISI dropped their price objective on shares of Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $113.74.

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.