Rhumbline Advisers Acquires 14,377 Shares of Target Corporation $TGT

Rhumbline Advisers increased its holdings in shares of Target Corporation (NYSE:TGT) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 871,822 shares of the retailer’s stock after acquiring an additional 14,377 shares during the period. Rhumbline Advisers’ holdings in Target were worth $78,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TGT. WFA of San Diego LLC acquired a new stake in shares of Target during the 2nd quarter worth approximately $25,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Target during the 3rd quarter valued at $27,000. Tripletail Wealth Management LLC bought a new position in Target during the third quarter worth $31,000. Key Financial Inc grew its holdings in Target by 77.4% in the third quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after purchasing an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC increased its stake in Target by 1,113.8% in the second quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after purchasing an additional 323 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TGT. Truist Financial upped their price objective on shares of Target from $83.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, November 20th. Argus dropped their price target on Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, December 1st. BMO Capital Markets reduced their price objective on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a research note on Thursday, November 20th. Royal Bank Of Canada decreased their price objective on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft set a $108.00 target price on Target in a research report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Target has a consensus rating of “Hold” and an average target price of $103.90.

Target Stock Performance

Shares of Target stock opened at $112.63 on Friday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $131.70. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $103.53 and a 200-day moving average price of $96.91. The company has a market cap of $51.00 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 11.71 and a beta of 1.14.

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

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 annualized dividend and a dividend yield of 4.0%. Target’s dividend payout ratio is currently 55.34%.

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.