Qvr LLC Buys Shares of 111,645 Target Corporation $TGT

Qvr LLC purchased a new position in shares of Target Corporation (NYSE:TGT) in the second quarter, Holdings Channel.com reports. The firm purchased 111,645 shares of the retailer’s stock, valued at approximately $11,014,000. Target accounts for approximately 1.1% of Qvr LLC’s holdings, making the stock its 4th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after acquiring an additional 6,607,982 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Target by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock valued at $1,602,825,000 after purchasing an additional 277,176 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the 2nd quarter valued at $595,839,000. Goldman Sachs Group Inc. lifted its stake in shares of Target by 35.5% in the 1st 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. Finally, Dimensional Fund Advisors LP boosted its holdings in Target by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after purchasing an additional 370,967 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 4.6%

TGT opened at $87.51 on Monday. The business has a 50 day moving average of $90.13 and a 200-day moving average of $95.90. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 2.74 and a beta of 1.19. 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 Corporation has a 1-year low of $83.44 and a 1-year high of $145.08.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $25.28 billion for the quarter, compared to analyst estimates of $25.44 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. Target’s revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, sell-side analysts anticipate 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 paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. Target’s dividend payout ratio is 55.34%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI reaffirmed a “positive” rating and issued a $100.00 price target on shares of Target in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Roth Capital set a $88.00 price target on shares of Target in a research report on Thursday. Bank of America reduced their price objective on shares of Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday. Finally, Citigroup lowered their target price on shares of Target from $100.00 to $89.00 and set a “neutral” rating on the stock in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Target has an average rating of “Hold” and a consensus price target of $102.97.

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.