Vident Advisory LLC Has $2.68 Million Stake in Target Corporation $TGT

Key Points

• Vident Advisory LLC significantly increased its stake in Target Corporation by 755.6% in the first quarter, totaling a holding worth $2.68 million.
• Target recently announced a quarterly dividend of $1.12 per share, which equates to a 4.7% annual yield, with a payout ratio of 53.15%.
• Target's stock has been assigned varied ratings by analysts, with a consensus rating of "Hold" and a price target averaging $113.74.

Vident Advisory LLC increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 755.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,685 shares of the retailer's stock after buying an additional 22,683 shares during the quarter. Vident Advisory LLC's holdings in Target were worth $2,680,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in shares of Target during the 4th quarter valued at $29,000. Heck Capital Advisors LLC acquired a new position in Target in the fourth quarter valued at about $40,000. WPG Advisers LLC bought a new stake in Target during the first quarter worth about $32,000. Mascagni Wealth Management Inc. bought a new stake in Target during the fourth quarter worth about $49,000. Finally, Atwood & Palmer Inc. grew its stake in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Target Stock Down 0.8%

Shares of NYSE:TGT opened at $95.99 on Monday. Target Corporation has a 52-week low of $87.35 and a 52-week high of $161.50. The company has a market capitalization of $43.62 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The company has a fifty day moving average of $102.17 and a 200-day moving average of $102.25.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.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 company posted $2.57 EPS. Target's quarterly revenue 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 predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.7%. Target's dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Morgan Stanley decreased their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $110.00 target price on shares of Target in a report on Wednesday, August 20th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $113.74.

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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