New York Life Investment Management LLC Increases Stock Position in Target Corporation $TGT

New York Life Investment Management LLC raised its position in shares of Target Corporation (NYSE:TGT) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,956 shares of the retailer’s stock after buying an additional 270 shares during the period. New York Life Investment Management LLC’s holdings in Target were worth $6,704,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH boosted its position in Target by 89.9% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 13,064 shares of the retailer’s stock valued at $1,289,000 after buying an additional 6,184 shares during the period. Howard Capital Management Inc. boosted its position in Target by 145.7% during the 2nd quarter. Howard Capital Management Inc. now owns 6,591 shares of the retailer’s stock valued at $650,000 after buying an additional 3,908 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Target by 17.4% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 113,507 shares of the retailer’s stock valued at $11,197,000 after buying an additional 16,800 shares during the period. Shilanski & Associates Inc. boosted its position in Target by 5.1% during the 2nd quarter. Shilanski & Associates Inc. now owns 24,332 shares of the retailer’s stock valued at $2,400,000 after buying an additional 1,175 shares during the period. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its position in Target by 12.4% during the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 8,975 shares of the retailer’s stock valued at $885,000 after buying an additional 987 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 3.1%

Shares of NYSE TGT opened at $94.14 on Thursday. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The stock has a market cap of $42.78 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. The firm has a 50-day moving average of $91.58 and a 200 day moving average of $96.44. 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 issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating 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 company 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. Target’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 expect that Target Corporation will post 8.69 EPS 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 $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.8%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TGT shares. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 price target on shares of Target in a research report on Wednesday, August 20th. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Royal Bank Of Canada lifted their target price on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Evercore ISI cut their target price on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 14th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.00.

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.