Geode Capital Management LLC Purchases 3,136 Shares of Target Corporation $TGT

Geode Capital Management LLC increased its position in shares of Target Corporation (NYSE:TGT) by 0.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,186,871 shares of the retailer’s stock after acquiring an additional 3,136 shares during the period. Geode Capital Management LLC owned about 2.24% of Target worth $1,000,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of TGT. Charles Schwab Investment Management Inc. raised its holdings in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Target in the second quarter valued at about $595,839,000. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after acquiring an additional 370,967 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Target by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock worth $420,413,000 after acquiring an additional 229,670 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Target in a research note on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. DA Davidson decreased their target price 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. Barclays reiterated an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Finally, Truist Financial reduced their price objective on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. Nine research 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.71.

Target Price Performance

Shares of NYSE:TGT opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The firm has a market cap of $41.20 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The firm’s fifty day moving average is $90.60 and its 200-day moving average is $96.25.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

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

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.