Proffitt & Goodson Inc. Raises Stock Position in Target Corporation $TGT

Proffitt & Goodson Inc. increased its stake in Target Corporation (NYSE:TGT) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,825 shares of the retailer’s stock after purchasing an additional 444 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Target were worth $377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. boosted its stake in shares of 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 last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of Target during the 2nd quarter worth $29,000. Global Assets Advisory LLC purchased a new position in shares of Target during the 2nd quarter worth $31,000. Finally, WPG Advisers LLC purchased a new position in shares of Target during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $89.36 on Wednesday. The company’s 50-day moving average price is $95.25 and its 200-day moving average price is $97.27. Target Corporation has a twelve month low of $86.30 and a twelve month high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company has a market cap of $40.60 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.57 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 for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the firm posted $2.57 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts forecast 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 is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target’s payout ratio is presently 53.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America reiterated an “underperform” rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Truist Financial decreased their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. Loop Capital set a $95.00 price objective on shares of Target in a research report on Thursday, July 17th. Piper Sandler restated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research note on Saturday, September 27th. Nine analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $109.65.

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.