Thompson Investment Management Inc. Increases Stake in Target Corporation $TGT

Key Points

• Thompson Investment Management Inc. boosted its stake in Target Corporation by 104.2% in Q2, increasing its holdings to 84,146 shares valued at approximately $8.3 million.
• Target is experiencing mixed analyst ratings, with nine analysts rating it as a Buy, while others have issued Hold and Sell ratings, reflecting a consensus target price of $109.65.
• Target announced a quarterly dividend of $1.14 per share, marking an increase from its previous dividend, with a payout ratio of 53.15% and a current yield of 5.1%.

Thompson Investment Management Inc. raised its holdings in Target Corporation (NYSE:TGT - Free Report) by 104.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,146 shares of the retailer's stock after purchasing an additional 42,943 shares during the period. Target accounts for about 1.2% of Thompson Investment Management Inc.'s holdings, making the stock its 29th biggest position. Thompson Investment Management Inc.'s holdings in Target were worth $8,301,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wolfe Research initiated coverage on Target in a research report on Thursday, September 18th. They set an "underperform" rating and a $80.00 price target on the stock. UBS Group lowered their target price on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Wedbush restated an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Target in a research report on Wednesday. Finally, Truist Financial reduced their target price on Target from $102.00 to $83.00 and set a "hold" rating for the company in a research report on Thursday, October 2nd. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $109.65.

Target Trading Down 1.4%

Shares of TGT stock opened at $89.12 on Friday. The stock has a market capitalization of $40.50 billion, a PE ratio of 10.39, a P/E/G ratio of 2.62 and a beta of 1.18. Target Corporation has a 1-year low of $86.30 and a 1-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 50-day moving average of $94.76 and a 200 day moving average of $97.09.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $24.84 billion. During the same quarter in the prior year, the company posted $2.57 EPS. The firm'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. As a group, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

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

About Target

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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