Target Corporation $TGT Shares Bought by Corundum Group Inc.

Corundum Group Inc. boosted its holdings in shares of Target Corporation (NYSE:TGT) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,665 shares of the retailer’s stock after purchasing an additional 236 shares during the period. Corundum Group Inc.’s holdings in Target were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Target during the second quarter valued at $595,839,000. Goldman Sachs Group Inc. lifted its position in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP lifted its position in Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after purchasing an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Target by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock valued at $420,413,000 after purchasing an additional 229,670 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TGT shares. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research report on Thursday, August 21st. Bank of America reiterated an “underperform” rating and issued a $93.00 price objective (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Jefferies Financial Group decreased their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, Evercore ISI decreased their price objective on shares of Target from $106.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.71.

Target Stock Down 0.5%

TGT opened at $89.03 on Friday. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $95.89 and a 200 day moving average price of $97.53. The company has a market cap of $40.46 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given 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 annualized dividend and a dividend yield of 5.1%. Target’s payout ratio is currently 53.15%.

Target 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.