Robeco Institutional Asset Management B.V. Grows Position in Target Corporation $TGT

Robeco Institutional Asset Management B.V. lifted its stake in Target Corporation (NYSE:TGT) by 415.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,335,693 shares of the retailer’s stock after buying an additional 1,076,425 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.29% of Target worth $131,766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TGT. Raleigh Capital Management Inc. grew its holdings in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC increased its stake in Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock worth $422,000 after buying an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after buying an additional 106 shares during the period. Truvestments Capital LLC increased its stake in Target by 21.4% in the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after buying an additional 107 shares during the period. Finally, Formidable Asset Management LLC increased its stake in Target by 1.2% in the 1st quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock worth $1,012,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.6%

NYSE TGT opened at $89.20 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The company has a market capitalization of $40.53 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The company’s 50-day simple moving average is $96.56 and its two-hundred day simple moving average is $97.74. Target Corporation has a one year low of $86.30 and a one year high of $161.50.

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. Equities analysts forecast 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 5.1%. 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 Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group reduced their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Barclays reaffirmed an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Finally, Wolfe Research started coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price on the stock. Nine analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.48.

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.