Louisiana State Employees Retirement System Sells 600 Shares of Target Corporation $TGT

Louisiana State Employees Retirement System decreased its position in shares of Target Corporation (NYSE:TGT) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,000 shares of the retailer’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Target were worth $2,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Target during the 2nd quarter valued at about $595,839,000. Pacer Advisors Inc. grew its holdings in Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Nuveen LLC purchased a new position in Target during the 1st quarter valued at about $186,361,000. Finally, Goldman Sachs Group Inc. grew its holdings in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after buying an additional 1,406,653 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TGT shares. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Loop Capital set a $95.00 price target on shares of Target in a report 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 for the company in a report on Thursday, August 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Wolfe Research began coverage on shares of Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.65.

Target Stock Performance

Shares of TGT opened at $85.79 on Friday. The company has a market cap of $38.98 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $94.48 and a 200-day moving average price of $96.95. Target Corporation has a 12-month low of $85.36 and a 12-month high of $161.50.

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. The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.3%. This is a positive change 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.