West Tower Group LLC Takes $395,000 Position in Target Corporation $TGT

West Tower Group LLC acquired a new stake in shares of Target Corporation (NYSE:TGT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,000 shares of the retailer’s stock, valued at approximately $395,000.

Other hedge funds have also recently modified their holdings of the company. Punch & Associates Investment Management Inc. increased its holdings in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after acquiring an additional 27,329 shares in the last quarter. DSG Capital Advisors LLC raised its stake in shares of Target by 16.1% in the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after purchasing an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in shares of Target by 27.7% in the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after purchasing an additional 2,869 shares during the last quarter. Correct Capital Wealth Management raised its stake in shares of Target by 44.7% in the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Target in the first quarter worth about $4,623,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TGT shares. Wolfe Research started 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. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Jefferies Financial Group reduced their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Bank of America reiterated an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.00.

Target Stock Up 0.8%

Shares of TGT stock opened at $90.79 on Monday. The stock has a market cap of $41.25 billion, a P/E ratio of 10.58, a P/E/G ratio of 2.64 and a beta of 1.18. Target Corporation has a twelve month low of $85.36 and a twelve month high of $158.42. The stock has a 50 day moving average of $93.07 and a 200 day moving average of $96.37. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm 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 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 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.