West Tower Group LLC Invests $395,000 in Target Corporation $TGT

West Tower Group LLC purchased a new position in Target Corporation (NYSE:TGT) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,000 shares of the retailer’s stock, valued at approximately $395,000.

A number of other institutional investors have also recently made changes to their positions in the company. JNBA Financial Advisors boosted its stake in shares of Target by 3.0% in the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after acquiring an additional 96 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC boosted its stake in shares of Target by 2.6% in the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock worth $422,000 after acquiring an additional 104 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Target by 9.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after acquiring an additional 106 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of Target by 21.4% in the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after acquiring an additional 107 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of Target stock opened at $90.79 on Monday. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The business’s fifty day simple moving average is $93.07 and its 200-day simple moving average is $96.37. The firm has a market cap 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. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the prior year, the company posted $2.57 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current 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 $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Ratings Changes

TGT has been the topic of a number of recent research reports. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Wolfe Research initiated coverage on Target in a research note on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Barclays reissued an “underweight” rating and set a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Citigroup boosted their price objective on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Piper Sandler reissued a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.00.

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.