Quinn Opportunity Partners LLC Increases Stock Position in Target Corporation $TGT

Quinn Opportunity Partners LLC increased its stake in Target Corporation (NYSE:TGT) by 24.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,100 shares of the retailer’s stock after acquiring an additional 3,900 shares during the period. Quinn Opportunity Partners LLC’s holdings in Target were worth $1,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. JNBA Financial Advisors lifted its holdings in shares of Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after purchasing an additional 96 shares during the period. Raleigh Capital Management Inc. raised its stake in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC lifted its holdings in Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after purchasing an additional 104 shares in the last quarter. IFG Advisory LLC increased its holdings in shares of Target by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 7,387 shares of the retailer’s stock worth $729,000 after buying an additional 105 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after purchasing an additional 106 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of Target in a research note on Monday, October 27th. Wolfe Research started coverage on shares of Target in a research note on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Piper Sandler restated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Zacks Research lowered shares of Target from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Finally, Wedbush reissued an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $108.71.

Target Stock Performance

TGT opened at $91.70 on Wednesday. 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 firm has a market cap of $41.67 billion, a PE ratio of 10.69, a P/E/G ratio of 2.74 and a beta of 1.19. The business has a fifty day simple moving average of $90.65 and a 200-day simple moving average of $96.32. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

About Target

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.