Washington Capital Management Inc. Invests $502,000 in Target Corporation $TGT

Washington Capital Management Inc. bought a new position in Target Corporation (NYSE:TGT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,090 shares of the retailer’s stock, valued at approximately $502,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Target during the second quarter valued at about $595,839,000. Goldman Sachs Group Inc. grew its position in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after buying an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP grew its position in Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after buying an additional 370,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Target by 6.0% during 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 valued at $420,413,000 after buying an additional 229,670 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TGT. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. UBS Group cut their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Barclays reiterated an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Evercore ISI cut their target price on shares of Target from $106.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, September 23rd. Finally, Citigroup increased their target price on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.48.

Target Trading Up 1.0%

Shares of Target stock opened at $88.04 on Monday. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.53 and a beta of 1.16. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $97.53 and its 200-day moving average price is $97.97.

Target (NYSE:TGT) last announced its quarterly earnings results 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. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced 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 yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is 53.15%.

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.