Target Corporation (NYSE:TGT) to Issue $1.14 Quarterly Dividend

Target Corporation (NYSE:TGT) announced a quarterly dividend on Thursday, January 22nd. Investors of record on Wednesday, February 11th will be paid a dividend of 1.14 per share by the retailer on Sunday, March 1st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, February 11th.

Target has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 54 consecutive years. Target has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Target to earn $9.32 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 48.9%.

Target Trading Up 0.5%

Target stock traded up $0.50 during trading hours on Thursday, hitting $106.54. The company had a trading volume of 4,899,143 shares, compared to its average volume of 6,680,898. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The firm has a market cap of $48.24 billion, a P/E ratio of 12.93, a P/E/G ratio of 11.89 and a beta of 1.12. The company has a 50-day moving average price of $96.95 and a two-hundred day moving average price of $96.26. Target has a 1 year low of $83.44 and a 1 year high of $145.08.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The firm had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, sell-side analysts anticipate that Target will post 8.69 earnings per share for the current year.

Institutional Investors Weigh In On Target

Several institutional investors have recently bought and sold shares of TGT. WFA of San Diego LLC purchased a new stake in shares of Target during the 2nd quarter valued at $25,000. Raleigh Capital Management Inc. raised its stake in Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in Target in the third quarter worth about $27,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of Target during the second quarter worth about $29,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.