Summitry LLC Buys 5,408 Shares of Target Corporation $TGT

Summitry LLC boosted its position in Target Corporation (NYSE:TGT) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,106 shares of the retailer’s stock after buying an additional 5,408 shares during the quarter. Summitry LLC’s holdings in Target were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WFA of San Diego LLC bought a new position in shares of Target in the second quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in Target during the 3rd quarter worth approximately $27,000. Tripletail Wealth Management LLC purchased a new stake in Target in the 3rd quarter worth approximately $31,000. Key Financial Inc boosted its holdings in Target by 77.4% in the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after purchasing an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC boosted its holdings in Target by 1,113.8% in the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after purchasing an additional 323 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TGT shares. Royal Bank Of Canada lowered their price objective on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. DA Davidson set a $120.00 target price on Target in a research note on Monday, January 12th. Mizuho dropped their price target on Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a report on Wednesday, January 21st. Finally, Argus decreased their price objective on shares of Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, December 1st. Ten investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $103.90.

Target Price Performance

Shares of Target stock opened at $115.61 on Monday. The firm has a market capitalization of $52.35 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 11.83 and a beta of 1.14. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target Corporation has a 12 month low of $83.44 and a 12 month high of $131.70. The business’s 50-day moving average price is $104.00 and its 200-day moving average price is $96.88.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The business had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Target’s revenue for the quarter was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 annualized dividend and a dividend yield of 3.9%. Target’s dividend payout ratio (DPR) is currently 55.34%.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.