Cambridge Financial Group Inc. Cuts Stake in Target Corporation $TGT

Cambridge Financial Group Inc. lessened its stake in shares of Target Corporation (NYSE:TGT) by 20.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,588 shares of the retailer’s stock after selling 10,323 shares during the period. Target comprises about 2.0% of Cambridge Financial Group Inc.’s holdings, making the stock its 29th biggest position. Cambridge Financial Group Inc.’s holdings in Target were worth $3,905,000 as of its most recent filing with the SEC.

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

Target Stock Performance

Shares of Target stock opened at $91.22 on Monday. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The firm’s 50-day moving average is $90.77 and its 200 day moving average is $96.39. The stock has a market cap of $41.45 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.74 and a beta of 1.19. 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 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 company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The firm’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. Sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. 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 5.0%. Target’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays reiterated an “underweight” rating and issued a $91.00 target price on shares of Target in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Citigroup increased their target price on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Loop Capital set a $95.00 price target on Target in a research report on Thursday, July 17th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $110.00 price objective on shares of Target in a research note on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $109.00.

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.