RNC Capital Management LLC Buys 417 Shares of Target Corporation $TGT

RNC Capital Management LLC raised its stake in Target Corporation (NYSE:TGT) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,315 shares of the retailer’s stock after purchasing an additional 417 shares during the period. RNC Capital Management LLC’s holdings in Target were worth $2,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. lifted its holdings 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 bought a new position in shares of Target during the 2nd quarter worth about $595,839,000. Pacer Advisors Inc. lifted its holdings in shares of Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after acquiring an additional 3,065,035 shares during the period. Nuveen LLC bought a new position in shares of Target during the 1st quarter worth about $186,361,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after acquiring an additional 1,406,653 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Trading Down 0.4%

TGT opened at $94.04 on Thursday. 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 market capitalization of $42.73 billion, a PE ratio of 10.96, a PEG ratio of 2.75 and a beta of 1.18. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The firm has a 50-day moving average price of $92.36 and a two-hundred day moving average price of $96.31.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s quarterly revenue was down .9% compared to the same quarter last year. 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 anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 4.8%. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 53.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TGT shares. Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. DA Davidson cut their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a report on Monday, October 13th. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Citigroup lifted their price target on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Wolfe Research initiated coverage on shares of Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and an average price target of $109.00.

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.