Commonwealth Retirement Investments LLC Buys Shares of 11,563 Target Corporation $TGT

Commonwealth Retirement Investments LLC bought a new stake in shares of Target Corporation (NYSE:TGT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,563 shares of the retailer’s stock, valued at approximately $1,141,000.

A number of other large investors also recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. raised its position in shares of Target by 48.1% in the 1st 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 during the period. Precedent Wealth Partners LLC raised its position in shares of Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after acquiring an additional 2,869 shares during the period. Correct Capital Wealth Management increased its stake in Target by 44.7% during the 1st 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 in the last quarter. PDT Partners LLC bought a new stake in Target during the 1st quarter worth approximately $4,623,000. Finally, Mattern Capital Management LLC increased its stake in Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after purchasing an additional 5,573 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on TGT. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Loop Capital set a $95.00 target price on Target in a research note on Thursday, July 17th. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. DA Davidson lowered their target price on Target from $115.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $109.00.

Target Price Performance

NYSE:TGT opened at $90.02 on Wednesday. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $91.14 and a 200 day simple moving average of $96.44. The stock has a market capitalization of $40.91 billion, a PE ratio of 10.49, a P/E/G ratio of 2.74 and a beta of 1.18.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.1%. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 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.