Abundance Wealth Counselors Raises Stake in Target Corporation $TGT

Abundance Wealth Counselors boosted its position in Target Corporation (NYSE:TGT) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,742 shares of the retailer’s stock after buying an additional 168 shares during the quarter. Abundance Wealth Counselors’ holdings in Target were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. boosted its stake in Target by 63.4% in 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 in the last quarter. Kozak & Associates Inc. boosted its stake in shares of Target by 2,530.0% during the second 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. purchased a new stake in shares of Target during the second quarter valued at approximately $29,000. WPG Advisers LLC purchased a new stake in shares of Target during the first quarter valued at approximately $32,000. Finally, 1248 Management LLC purchased a new stake in shares of Target during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $89.52 on Friday. The stock has a fifty day moving average of $96.23 and a 200 day moving average of $97.63. Target Corporation has a 52 week low of $86.30 and a 52 week high of $161.50. The firm has a market capitalization of $40.68 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 2.57 and a beta of 1.18. 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 announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter last 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. As a group, research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TGT shares. Bank of America reissued an “underperform” rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Guggenheim reissued a “buy” rating and set a $115.00 price objective on shares of Target in a research note on Thursday, August 21st. Loop Capital set a $95.00 price objective on Target in a research note on Thursday, July 17th. Citigroup increased their price objective on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $109.71.

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.