Tectonic Advisors LLC Grows Stock Holdings in Target Corporation $TGT

Tectonic Advisors LLC raised its position in shares of Target Corporation (NYSE:TGT) by 43.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,212 shares of the retailer’s stock after buying an additional 3,087 shares during the period. Tectonic Advisors LLC’s holdings in Target were worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Maryland State Retirement & Pension System boosted its position in shares of Target by 2.1% during the second quarter. Maryland State Retirement & Pension System now owns 22,092 shares of the retailer’s stock worth $2,179,000 after buying an additional 459 shares during the period. Capital Management Associates Inc raised its stake in shares of Target by 137.9% in the second quarter. Capital Management Associates Inc now owns 5,196 shares of the retailer’s stock valued at $513,000 after acquiring an additional 3,012 shares in the last quarter. Castle Rock Wealth Management LLC acquired a new stake in shares of Target in the second quarter valued at $334,000. Northern Financial Advisors Inc acquired a new stake in shares of Target in the second quarter valued at $370,000. Finally, Traphagen Investment Advisors LLC raised its stake in shares of Target by 10.9% in the second quarter. Traphagen Investment Advisors LLC now owns 2,158 shares of the retailer’s stock valued at $213,000 after acquiring an additional 212 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Down 1.4%

Target stock opened at $89.12 on Friday. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The stock has a market cap of $40.50 billion, a PE ratio of 10.39, a P/E/G ratio of 2.62 and a beta of 1.18. The stock’s fifty day moving average is $94.76 and its two-hundred day moving average is $97.09.

Target (NYSE:TGT) last posted its 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 business had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s 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 expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

TGT has been the topic of several analyst reports. Loop Capital set a $95.00 price objective on Target in a research note on Thursday, July 17th. 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 note on Thursday, October 2nd. Royal Bank Of Canada increased their price objective on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Citigroup raised their price target on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.65.

Target 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.