Sharp Financial Services LLC Makes New $266,000 Investment in Target Corporation $TGT

Sharp Financial Services LLC acquired a new stake in shares of Target Corporation (NYSE:TGT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,700 shares of the retailer’s stock, valued at approximately $266,000.

Other institutional investors have also recently modified their holdings of the company. Punch & Associates Investment Management Inc. increased its position in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after purchasing an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC increased its position in shares of Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock valued at $16,347,000 after purchasing an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC increased its position in shares of Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares during the last quarter. Correct Capital Wealth Management increased its position in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after purchasing an additional 4,189 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Target during the 1st quarter valued at about $4,623,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 3.7%

NYSE TGT opened at $85.79 on Monday. Target Corporation has a fifty-two week low of $85.36 and a fifty-two 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 50 day simple moving average of $94.48 and a two-hundred day simple moving average of $96.82. The stock has a market cap of $38.98 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $2.57 EPS. The business’s 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, analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 5.3%. Target’s dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

TGT has been the topic of several recent research reports. Jefferies Financial Group reduced their price objective on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Barclays reiterated an “underweight” rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Loop Capital set a $95.00 price target on Target in a research report on Thursday, July 17th. Wolfe Research initiated coverage on Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target on the stock. Finally, Evercore ISI reduced their price target on Target from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Nine investment analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $109.65.

Target 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.