Global Retirement Partners LLC Takes $1.30 Million Position in Target Corporation $TGT

Global Retirement Partners LLC bought a new position in Target Corporation (NYSE:TGT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,208 shares of the retailer’s stock, valued at approximately $1,303,000.

A number of other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Target by 14.7% during the 2nd 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. Kingstone Capital Partners Texas LLC purchased a new position in shares of Target in the second quarter valued at $595,839,000. Nuveen LLC bought a new stake in Target in the first quarter worth $186,361,000. Finally, Goldman Sachs Group Inc. raised its stake in Target by 35.5% during 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 in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Sanford C. Bernstein lowered their price target on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday, November 20th. Royal Bank Of Canada dropped their price target on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. BTIG Research started coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $85.00 price objective (down from $94.00) on shares of Target in a research report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.00.

Target Stock Performance

Target stock opened at $89.83 on Thursday. 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 firm has a market capitalization of $40.82 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The company’s 50-day moving average is $90.01 and its 200 day moving average is $95.70.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. During the same quarter in the prior year, the firm posted $1.85 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. Target’s payout ratio is 55.34%.

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.