TD Waterhouse Canada Inc. Has $4.19 Million Stock Position in Target Corporation $TGT

TD Waterhouse Canada Inc. raised its position in Target Corporation (NYSE:TGT) by 151.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,322 shares of the retailer’s stock after buying an additional 24,310 shares during the period. TD Waterhouse Canada Inc.’s holdings in Target were worth $4,185,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. grew its position in Target by 48.1% during 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. Precedent Wealth Partners LLC increased its position in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after acquiring an additional 2,869 shares in the last quarter. PDT Partners LLC bought a new position in shares of Target in the first quarter worth about $4,623,000. Mattern Capital Management LLC grew its stake in shares of Target by 7.6% during the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after purchasing an additional 5,573 shares during the last quarter. Finally, Northern Financial Advisors Inc acquired a new position in Target during the 2nd quarter worth $370,000. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TGT shares. Wolfe Research started coverage on Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 target price for the company. Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Target in a research report on Monday, October 27th. JPMorgan Chase & Co. reduced their target price on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Finally, UBS Group cut their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $102.97.

Target Stock Performance

Shares of NYSE:TGT opened at $83.66 on Friday. The firm’s 50 day simple moving average is $90.18 and its 200 day simple moving average is $95.93. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $145.08. The company has a market capitalization of $38.01 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The firm had revenue of $25.28 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 business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.5%. Target’s payout ratio is presently 53.15%.

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.