FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 265 Shares of Target Corporation $TGT

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Target Corporation (NYSE:TGT) by 9.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,180 shares of the retailer’s stock after acquiring an additional 265 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Target were worth $314,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TGT. Kozak & Associates Inc. increased its position in shares of Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the period. Investment Research & Advisory Group Inc. acquired a new stake in shares of Target during the second quarter worth $29,000. WPG Advisers LLC acquired a new stake in shares of Target during the first quarter worth $32,000. 1248 Management LLC acquired a new stake in shares of Target during the first quarter worth $38,000. Finally, Atwood & Palmer Inc. increased its position in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after buying an additional 352 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.0%

Target stock opened at $88.75 on Tuesday. Target Corporation has a 1-year low of $86.30 and a 1-year high of $161.50. The firm has a market capitalization of $40.33 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 2.53 and a beta of 1.16. The firm’s fifty day moving average price is $97.27 and its two-hundred day moving average price is $97.86. 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 (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Target from $90.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, August 13th. Jefferies Financial Group decreased their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Loop Capital set a $95.00 price objective on shares of Target in a research report on Thursday, July 17th. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $110.48.

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.