FLC Capital Advisors Invests $759,000 in Target Corporation $TGT

FLC Capital Advisors purchased a new stake in Target Corporation (NYSE:TGT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,695 shares of the retailer’s stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Brighton Jones LLC boosted its stake in shares of 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 purchasing an additional 3,059 shares during the last quarter. Blue Trust Inc. boosted its stake in Target by 3.1% in the first quarter. Blue Trust Inc. now owns 5,136 shares of the retailer’s stock valued at $536,000 after acquiring an additional 153 shares during the last quarter. PFG Investments LLC grew its holdings in Target by 19.7% during the 1st quarter. PFG Investments LLC now owns 12,558 shares of the retailer’s stock worth $1,311,000 after acquiring an additional 2,067 shares during the period. Praxis Investment Management Inc. raised its position in shares of Target by 16.5% during the 1st quarter. Praxis Investment Management Inc. now owns 8,950 shares of the retailer’s stock valued at $934,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its stake in shares of Target by 101.1% in the 1st quarter. Intact Investment Management Inc. now owns 36,598 shares of the retailer’s stock valued at $3,819,000 after purchasing an additional 18,400 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Evercore ISI decreased their target price on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, October 14th. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. UBS Group cut their price target on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Finally, Piper Sandler restated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target Trading Up 0.8%

NYSE:TGT opened at $90.79 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The business’s 50-day simple moving average is $93.07 and its 200-day simple moving average is $96.37. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The stock has a market capitalization of $41.25 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

Target (NYSE:TGT) last posted its earnings results 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. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the prior year, the business earned $2.57 EPS. Target’s revenue for the quarter 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 expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s dividend payout ratio is currently 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.