Cambiar Investors LLC Acquires Shares of 464,470 Target Corporation $TGT

Cambiar Investors LLC acquired a new stake in Target Corporation (NYSE:TGT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 464,470 shares of the retailer’s stock, valued at approximately $45,820,000. Target makes up approximately 1.9% of Cambiar Investors LLC’s portfolio, making the stock its 19th biggest holding. Cambiar Investors LLC owned about 0.10% of Target as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Brighton Jones LLC increased its position in Target by 101.3% in 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. Rossby Financial LCC acquired a new stake in Target in the 1st quarter valued at about $50,000. Teacher Retirement System of Texas increased its position in Target by 306.5% in the 1st quarter. Teacher Retirement System of Texas now owns 172,513 shares of the retailer’s stock valued at $18,003,000 after acquiring an additional 130,078 shares in the last quarter. Avantax Planning Partners Inc. increased its position in Target by 9.0% in the 1st quarter. Avantax Planning Partners Inc. now owns 12,926 shares of the retailer’s stock valued at $1,349,000 after acquiring an additional 1,069 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Target by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 96,388 shares of the retailer’s stock worth $10,059,000 after buying an additional 8,529 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TGT shares. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Bank of America reiterated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Evercore ISI lowered their price target on shares of Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, October 14th. Finally, BTIG Research started coverage on shares of Target in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.00.

Target Stock Down 0.0%

Target stock opened at $92.92 on Friday. The company’s 50 day simple moving average is $91.37 and its 200 day simple moving average is $96.43. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The firm has a market capitalization of $42.22 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 last year, the firm earned $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. As a group, sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.9%. 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 payout ratio is 53.15%.

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.