Astoria Portfolio Advisors LLC. Makes New Investment in Target Corporation $TGT

Astoria Portfolio Advisors LLC. acquired a new position in shares of Target Corporation (NYSE:TGT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,259 shares of the retailer’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Punch & Associates Investment Management Inc. lifted its stake in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares in the last quarter. DSG Capital Advisors LLC boosted its position in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock valued at $16,347,000 after buying an additional 21,726 shares during the last quarter. Precedent Wealth Partners LLC boosted its position in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying 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 first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after acquiring an additional 4,189 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Target during the first quarter worth about $4,623,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 2.1%

Shares of Target stock opened at $87.29 on Tuesday. 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 firm has a market cap of $39.66 billion, a P/E ratio of 10.17, a P/E/G ratio of 2.48 and a beta of 1.18. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $161.50. The business has a 50-day moving average price of $94.23 and a 200 day moving average price of $96.71.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating 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 company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. Target’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. Target’s payout ratio is presently 53.15%.

Analysts Set New Price Targets

TGT has been the topic of a number of analyst reports. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Barclays reaffirmed an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Wolfe Research initiated coverage on Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price on the stock. UBS Group dropped their target price on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Finally, Truist Financial dropped their target price on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. Nine research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.10.

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.