Mirae Asset Global Investments Co. Ltd. Acquires 48,002 Shares of Target Corporation $TGT

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Target Corporation (NYSE:TGT) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 494,346 shares of the retailer’s stock after acquiring an additional 48,002 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Target were worth $48,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Raleigh Capital Management Inc. raised its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares in the last quarter. Guardian Wealth Advisors LLC grew its stake in Target by 2.6% in the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after acquiring an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Target by 9.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock valued at $126,000 after acquiring an additional 106 shares during the period. Truvestments Capital LLC grew its stake in Target by 21.4% in the first quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock valued at $63,000 after acquiring an additional 107 shares during the period. Finally, Formidable Asset Management LLC grew its stake in Target by 1.2% in the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock valued at $1,012,000 after acquiring an additional 111 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $89.52 on Friday. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The stock’s 50 day moving average price is $96.23 and its 200-day moving average price is $97.63. The company has a market capitalization of $40.68 billion, a PE ratio of 10.43, a PEG ratio of 2.57 and a beta of 1.18. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 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 business earned $2.57 EPS. The company’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, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid 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 is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Ratings Changes

A number of brokerages have commented on TGT. Piper Sandler reissued a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Wolfe Research began coverage on Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective for the company. Barclays reiterated an “underweight” rating and set a $91.00 price target on shares of Target in a research note on Monday, July 21st. Citigroup lifted 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. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. 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 MarketBeat.com, Target has a consensus rating of “Hold” and an average price target of $109.71.

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.