Horrell Capital Management Inc. Grows Stock Position in Target Corporation $TGT

Horrell Capital Management Inc. boosted its stake in shares of Target Corporation (NYSE:TGT) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,427 shares of the retailer’s stock after purchasing an additional 597 shares during the quarter. Target makes up 1.1% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Horrell Capital Management Inc.’s holdings in Target were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Raleigh Capital Management Inc. increased its stake in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the period. Kozak & Associates Inc. lifted its stake in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in Target during the 2nd quarter worth approximately $29,000. Global Assets Advisory LLC purchased a new stake in shares of Target in the 2nd quarter valued at approximately $31,000. Finally, WPG Advisers LLC acquired a new stake in shares of Target in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.1%

TGT opened at $91.70 on Wednesday. The firm has a market cap of $41.67 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The business’s 50 day moving average is $90.65 and its two-hundred day moving average is $96.32. 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 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 business 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 was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

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

Wall Street Analyst Weigh In

TGT has been the subject of a number of analyst reports. Barclays reiterated an “underweight” rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. BTIG Research assumed coverage on Target in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Evercore ISI decreased their target price on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research note on Tuesday, October 14th. Finally, UBS Group lowered their price target on Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Target currently has an average rating of “Hold” and a consensus target price of $108.71.

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.