Equity Investment Corp Has $110.32 Million Stake in Target Corporation $TGT

Equity Investment Corp increased its stake in shares of Target Corporation (NYSE:TGT) by 31.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,311 shares of the retailer’s stock after purchasing an additional 270,260 shares during the quarter. Target makes up about 2.3% of Equity Investment Corp’s portfolio, making the stock its 19th largest holding. Equity Investment Corp’s holdings in Target were worth $110,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of Target during the second quarter worth $1,141,000. Crestwood Advisors Group LLC increased its holdings in shares of Target by 4.6% during the second quarter. Crestwood Advisors Group LLC now owns 12,478 shares of the retailer’s stock worth $1,231,000 after buying an additional 546 shares in the last quarter. NewSquare Capital LLC increased its holdings in Target by 122.5% in the 2nd quarter. NewSquare Capital LLC now owns 41,719 shares of the retailer’s stock worth $4,086,000 after purchasing an additional 22,968 shares in the last quarter. McGinn Penninger Investment Management Inc. increased its holdings in Target by 2.5% in the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 29,536 shares of the retailer’s stock worth $2,914,000 after purchasing an additional 730 shares in the last quarter. Finally, Access Investment Management LLC acquired a new position in Target in the 2nd quarter worth about $209,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BTIG Research initiated coverage on Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Piper Sandler restated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. DA Davidson decreased their price target on shares of Target from $115.00 to $108.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Wolfe Research assumed coverage on Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.00.

Target Stock Performance

NYSE:TGT opened at $90.02 on Wednesday. The company has a market capitalization of $40.91 billion, a PE ratio of 10.49, a P/E/G ratio of 2.74 and a beta of 1.18. The company has a 50 day simple moving average of $91.14 and a two-hundred day simple moving average of $96.44. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a fifty-two week low of $85.36 and a fifty-two week high of $158.42.

Target (NYSE:TGT) last posted 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 net margin of 3.72% and a return on equity of 23.43%. The company 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 company posted $2.57 earnings per share. 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. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 53.15%.

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.