Target Corporation $TGT Stake Boosted by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Target Corporation by 41.4% during the second quarter, now owning 26,462 shares valued at approximately $2.61 million.
• The company announced a quarterly dividend of $1.14 per share, raising it from the previous dividend of $1.12, which represents an annualized yield of 5.1%.
• Target's quarterly earnings beat analysts' expectations with an EPS of $2.05 and revenue of $24.99 billion, despite a year-over-year revenue decline of 0.9%.

Shell Asset Management Co. grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 41.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,462 shares of the retailer's stock after acquiring an additional 7,742 shares during the period. Shell Asset Management Co.'s holdings in Target were worth $2,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TGT. Brighton Jones LLC grew its holdings in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Target by 21.3% during the 1st quarter. Park Avenue Securities LLC now owns 16,201 shares of the retailer's stock valued at $1,691,000 after acquiring an additional 2,850 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Target during the 1st quarter valued at $4,154,000. Courier Capital LLC grew its holdings in shares of Target by 62.4% during the 1st quarter. Courier Capital LLC now owns 9,874 shares of the retailer's stock valued at $1,030,000 after acquiring an additional 3,794 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Target by 34.8% in the first quarter. Farther Finance Advisors LLC now owns 12,389 shares of the retailer's stock worth $1,294,000 after purchasing an additional 3,195 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 0.4%

Shares of TGT opened at $89.36 on Wednesday. The company has a 50-day simple moving average of $95.25 and a 200-day simple moving average of $97.27. The firm has a market capitalization of $40.60 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.57 and a beta of 1.18. 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 Corporation has a 52 week low of $86.30 and a 52 week high of $161.50.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The business 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%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's dividend payout ratio (DPR) is currently 53.15%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of analyst reports. Citigroup boosted their price target on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Evercore ISI lowered their price objective on Target from $105.00 to $103.00 and set an "in-line" rating on the stock in a report on Tuesday. Jefferies Financial Group lowered their price objective on Target from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Wall Street Zen raised Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Truist Financial decreased their price target on shares of Target from $102.00 to $83.00 and set a "hold" rating for the company in a report on Thursday, October 2nd. Nine investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $109.65.

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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