Target Corporation $TGT Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC raised its stake in Target Corporation (NYSE:TGT) by 6.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,640 shares of the retailer’s stock after buying an additional 831 shares during the period. Stablepoint Partners LLC’s holdings in Target were worth $1,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Target by 14.7% in the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after acquiring an additional 6,607,982 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Target by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock worth $1,602,825,000 after purchasing an additional 277,176 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Target during the second quarter worth $595,839,000. Norges Bank acquired a new stake in Target in the second quarter valued at $578,009,000. Finally, Goldman Sachs Group Inc. grew its holdings in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TGT. Cowen reaffirmed a “hold” rating on shares of Target in a research note on Monday, November 10th. Robert W. Baird dropped their target price on shares of Target from $100.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and issued a $115.00 price target on shares of Target in a research report on Monday, October 27th. Finally, DA Davidson reissued a “buy” rating and set a $108.00 price objective on shares of Target in a research note on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.00.

Target Price Performance

NYSE:TGT opened at $90.85 on Friday. Target Corporation has a 12-month low of $83.44 and a 12-month high of $145.08. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company’s 50-day moving average is $90.07 and its two-hundred day moving average is $95.57. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis 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 is currently 55.34%.

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.