Accuvest Global Advisors Takes Position in Target Corporation $TGT

Accuvest Global Advisors acquired a new stake in Target Corporation (NYSE:TGT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,371 shares of the retailer’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Target in the second quarter valued at $595,839,000. Pacer Advisors Inc. increased its stake in Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after purchasing an additional 3,065,035 shares during the last quarter. Nuveen LLC acquired a new position in Target in the first quarter valued at $186,361,000. Finally, Goldman Sachs Group Inc. increased its stake in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup upped their target price on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Wedbush reiterated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Bank of America reiterated an “underperform” rating and issued a $93.00 target price (down from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Truist Financial dropped their target price on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.00.

Target Stock Performance

Shares of NYSE:TGT opened at $92.92 on Friday. The firm has a market capitalization of $42.22 billion, a PE ratio of 10.83, a P/E/G ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The business has a 50-day moving average of $91.37 and a two-hundred day moving average of $96.43. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

Target Company 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.