Applied Finance Capital Management LLC Raises Stock Position in Target Corporation $TGT

Applied Finance Capital Management LLC boosted its holdings in shares of Target Corporation (NYSE:TGTFree Report) by 41.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,213 shares of the retailer’s stock after purchasing an additional 49,943 shares during the period. Applied Finance Capital Management LLC’s holdings in Target were worth $16,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its holdings in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the period. Kozak & Associates Inc. raised its position in Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new position in Target in the second quarter valued at approximately $29,000. Global Assets Advisory LLC acquired a new position in Target in the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC purchased a new stake in Target in the 1st quarter worth approximately $32,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 1.0%

TGT stock opened at $90.01 on Friday. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.97. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $93.36 and a 200-day simple moving average of $96.51. The stock has a market capitalization of $40.90 billion, a P/E ratio of 10.49, a P/E/G ratio of 2.65 and a beta of 1.18.

Target (NYSE:TGTGet Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the previous year, the firm posted $2.57 EPS. Target’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. Equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared 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 is a boost from Target’s previous quarterly dividend of $1.12. 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. Target’s dividend payout ratio is presently 53.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Citigroup lifted their price objective on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. DA Davidson decreased their price objective on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank Of Canada raised their target price on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.00.

Read Our Latest Report on TGT

About Target

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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