Patton Albertson Miller Group LLC Acquires 6,268 Shares of Target Corporation $TGT

Patton Albertson Miller Group LLC lifted its holdings in Target Corporation (NYSE:TGT) by 15.9% during the second quarter, HoldingsChannel reports. The firm owned 45,726 shares of the retailer’s stock after purchasing an additional 6,268 shares during the period. Patton Albertson Miller Group LLC’s holdings in Target were worth $4,511,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TGT. Kozak & Associates Inc. increased its stake in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the period. WPG Advisers LLC bought a new position in shares of Target in the first quarter worth about $32,000. 1248 Management LLC bought a new position in shares of Target in the first quarter worth about $38,000. Atwood & Palmer Inc. increased its stake in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after purchasing an additional 352 shares during the period. Finally, Abound Financial LLC bought a new position in shares of Target in the first quarter worth about $43,000. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler restated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Wolfe Research assumed coverage on Target in a research note on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target on the stock. Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. Bank of America restated an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a research note on Friday, August 15th. Finally, Truist Financial boosted their price target on Target from $90.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.48.

Target Stock Up 1.0%

Shares of TGT opened at $88.04 on Friday. The company has a market capitalization of $40.01 billion, a P/E ratio of 10.26, a PEG ratio of 2.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a one year low of $86.30 and a one year high of $161.50. The business’s 50 day simple moving average is $97.53 and its 200-day simple moving average is $98.02.

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

Target Increases Dividend

The firm 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 $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

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.