Intech Investment Management LLC Increases Stake in Target Corporation $TGT

Intech Investment Management LLC grew its stake in shares of Target Corporation (NYSE:TGT) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,960 shares of the retailer’s stock after buying an additional 21,043 shares during the quarter. Intech Investment Management LLC’s holdings in Target were worth $12,031,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. grew its position in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its position in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target during the second quarter valued at approximately $29,000. Global Assets Advisory LLC purchased a new stake in shares of Target during the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new position in shares of Target in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TGT. DA Davidson lowered their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Bank of America reaffirmed an “underperform” rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research note on Friday, August 15th. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, JPMorgan Chase & Co. reduced their price target on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $108.71.

Target Stock Down 0.7%

Shares of NYSE:TGT opened at $89.96 on Friday. The firm has a market capitalization of $40.88 billion, a P/E ratio of 10.49, a P/E/G ratio of 2.74 and a beta of 1.19. 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 50 day moving average price of $90.54 and a 200-day moving average price of $96.20. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last released its quarterly 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. The company had revenue of $24.99 billion for 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 previous year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 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.