VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $16.50 Million Investment in Target Corporation $TGT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Target Corporation (NYSE:TGT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 167,300 shares of the retailer’s stock, valued at approximately $16,504,000.

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

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent research reports. Barclays reissued an “underweight” rating and set a $91.00 price target on shares of Target in a research report on Monday, July 21st. Wolfe Research initiated coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target for the company. Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Nine 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 company’s stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $109.00.

Target Stock Up 0.8%

Shares of Target stock opened at $90.79 on Monday. 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 stock has a market capitalization of $41.25 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42. The company has a 50-day simple moving average of $93.07 and a two-hundred day simple moving average of $96.37.

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

Target Increases Dividend

The business 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 5.0%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

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.