Target Corporation $TGT Stake Raised by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in shares of Target Corporation (NYSE:TGT) by 27.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,559 shares of the retailer’s stock after buying an additional 1,823 shares during the period. Penserra Capital Management LLC’s holdings in Target were worth $843,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Kozak & Associates Inc. boosted its position in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Target during the second quarter valued at $29,000. WPG Advisers LLC bought a new stake in shares of Target during the first quarter valued at about $32,000. Finally, Global Assets Advisory LLC acquired a new stake in Target in the second quarter worth about $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TGT. DA Davidson decreased their target price on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Target in a report on Monday, October 27th. Zacks Research lowered shares of Target from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. dropped their target price on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Royal Bank Of Canada increased their price target on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.71.

Target Stock Up 1.1%

TGT stock opened at $91.70 on Wednesday. The firm has a market cap of $41.67 billion, a PE ratio of 10.69, a P/E/G ratio of 2.74 and a beta of 1.19. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42. 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 50 day simple moving average of $90.65 and a 200 day simple moving average of $96.32.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is currently 53.15%.

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.