DekaBank Deutsche Girozentrale Purchases 61,074 Shares of Target Corporation $TGT

DekaBank Deutsche Girozentrale lifted its position in Target Corporation (NYSE:TGT) by 26.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 292,694 shares of the retailer’s stock after acquiring an additional 61,074 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of Target worth $29,426,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. lifted its holdings in shares of Target by 48.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after acquiring an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC lifted its holdings in shares of Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after acquiring an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after buying an additional 2,869 shares during the period. Correct Capital Wealth Management increased its stake in Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after buying an additional 4,189 shares during the period. Finally, PDT Partners LLC purchased a new position in Target in the 1st quarter worth about $4,623,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.4%

Shares of Target stock opened at $94.04 on Thursday. The firm’s 50 day moving average price is $92.36 and its 200-day moving average price is $96.31. 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 Corporation has a 52-week low of $85.36 and a 52-week high of $158.42. The company has a market cap of $42.73 billion, a P/E ratio of 10.96, a PEG ratio of 2.75 and a beta of 1.18.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm earned $2.57 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. 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 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.8%. 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 presently 53.15%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TGT. Truist Financial reduced their price target 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. Wolfe Research began coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target on the stock. UBS Group reduced their price target on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Evercore ISI reduced their price target on shares of Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 14th. Finally, Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Nine research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $109.00.

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.