Castlekeep Investment Advisors LLC Buys 3,209 Shares of Target Corporation $TGT

Castlekeep Investment Advisors LLC grew its holdings in Target Corporation (NYSE:TGT) by 36.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,039 shares of the retailer’s stock after acquiring an additional 3,209 shares during the period. Castlekeep Investment Advisors LLC’s holdings in Target were worth $1,188,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. raised its position in Target by 48.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after acquiring an additional 27,329 shares during the period. Precedent Wealth Partners LLC increased its stake in shares of Target by 27.7% in the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after purchasing an additional 2,869 shares in the last quarter. Correct Capital Wealth Management increased its stake in shares of Target by 44.7% in the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Target in the first quarter worth $4,623,000. Finally, Mattern Capital Management LLC increased its stake in shares of Target by 7.6% in the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after purchasing an additional 5,573 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Jefferies Financial Group reduced their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Barclays reissued an “underweight” rating and issued a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Piper Sandler reissued a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $109.00.

Target Stock Performance

TGT opened at $92.92 on Friday. The stock 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 fifty day moving average of $91.37 and a 200 day moving average of $96.43. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $2.57 EPS. The business’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is 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.