Hilltop National Bank Makes New $500,000 Investment in Target Corporation $TGT

Hilltop National Bank acquired a new position in shares of Target Corporation (NYSE:TGT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,071 shares of the retailer’s stock, valued at approximately $500,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kozak & Associates Inc. raised its holdings 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 purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Target during the 2nd quarter worth about $29,000. WPG Advisers LLC bought a new stake in Target during the 1st quarter worth about $32,000. Finally, 1248 Management LLC bought a new stake in Target during the 1st quarter worth about $38,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGT. Truist Financial lowered their price target on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Evercore ISI lowered their price target on Target from $106.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday, September 23rd. Barclays reaffirmed an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and a consensus price target of $109.71.

Target Price Performance

NYSE TGT opened at $89.03 on Friday. The business has a 50 day simple moving average of $95.89 and a 200 day simple moving average of $97.53. Target Corporation has a 52-week low of $86.30 and a 52-week high of $161.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18.

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

Target Increases Dividend

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