Concurrent Investment Advisors LLC Purchases 8,557 Shares of Target Corporation $TGT

Concurrent Investment Advisors LLC raised its position in shares of Target Corporation (NYSE:TGT) by 21.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,657 shares of the retailer’s stock after acquiring an additional 8,557 shares during the period. Concurrent Investment Advisors LLC’s holdings in Target were worth $4,701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TGT. Brighton Jones LLC grew its holdings in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Target by 105.7% in the first quarter. SG Americas Securities LLC now owns 21,680 shares of the retailer’s stock worth $2,263,000 after purchasing an additional 11,142 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Target by 10.3% in the first quarter. Simon Quick Advisors LLC now owns 2,128 shares of the retailer’s stock worth $222,000 after purchasing an additional 198 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Target in the first quarter worth about $2,150,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Target in the first quarter worth about $103,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TGT. Truist Financial cut their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Evercore ISI cut their price target on shares of Target from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Jefferies Financial Group cut their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Citigroup increased their target price on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Finally, Barclays reiterated an “underweight” rating and set a $91.00 target price on shares of Target in a report on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $109.65.

Target Stock Performance

TGT stock opened at $85.79 on Monday. The firm has a market cap of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The firm has a 50-day simple moving average of $94.48 and a two-hundred day simple moving average of $96.82. Target Corporation has a one year low of $85.36 and a one year high of $161.50. 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 released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. 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 payout ratio is 53.15%.

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.