Voss Capital LP Makes New Investment in Target Corporation $TGT

Key Points

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Voss Capital LP bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,000 shares of the retailer's stock, valued at approximately $3,131,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JT Stratford LLC bought a new stake in shares of Target during the 1st quarter worth about $867,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Target by 86.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 394,112 shares of the retailer's stock worth $41,104,000 after purchasing an additional 182,512 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Target in the 1st quarter worth about $2,537,000. Edgar Lomax Co. VA raised its stake in Target by 49.5% in the 1st quarter. Edgar Lomax Co. VA now owns 528,460 shares of the retailer's stock worth $55,150,000 after purchasing an additional 174,860 shares in the last quarter. Finally, Cladis Investment Advisory LLC raised its stake in Target by 18.7% in the 1st quarter. Cladis Investment Advisory LLC now owns 4,443 shares of the retailer's stock worth $464,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Target Price Performance

TGT stock traded up $1.9280 during trading on Friday, reaching $98.9880. 13,658,170 shares of the company were exchanged, compared to its average volume of 7,149,806. The company has a 50-day moving average of $101.99 and a two-hundred day moving average of $104.11. The company has a market capitalization of $44.98 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 2.84 and a beta of 1.22. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

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 analysts' consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is presently 50.11%.

Analysts Set New Price Targets

TGT has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Bank of America reiterated an "underperform" rating and issued a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Wells Fargo & Company dropped their price objective on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Loop Capital set a $95.00 price objective on shares of Target in a research note on Thursday, July 17th. Finally, Sanford C. Bernstein downgraded shares of Target from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $97.00 to $82.00 in a report on Monday, May 12th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.