Target Corporation $TGT Shares Sold by M&G PLC

M&G PLC trimmed its stake in shares of Target Corporation (NYSE:TGT) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,874 shares of the retailer’s stock after selling 2,664 shares during the quarter. M&G PLC’s holdings in Target were worth $10,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Raleigh Capital Management Inc. grew its position 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 acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. boosted its stake in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in Target during the 2nd quarter valued at about $29,000. Global Assets Advisory LLC acquired a new stake in shares of Target in the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Target during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $91.92 on Thursday. The stock’s fifty day simple moving average is $90.64 and its 200-day simple moving average is $96.29. 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 company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 2.74 and a beta of 1.19. Target Corporation has a 1-year low of $85.36 and a 1-year 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. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TGT shares. Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of Target in a report on Monday, October 27th. BTIG Research began coverage on Target in a report on Tuesday, October 14th. They set a “neutral” rating on the stock. DA Davidson cut their price objective on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Citigroup increased their target price on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Truist Financial lowered their target price on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus target price of $108.71.

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.