Peloton Wealth Strategists Purchases 6,570 Shares of Target Corporation $TGT

Peloton Wealth Strategists lifted its position in Target Corporation (NYSE:TGT) by 34.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,495 shares of the retailer’s stock after buying an additional 6,570 shares during the period. Peloton Wealth Strategists’ holdings in Target were worth $2,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the period. Raiffeisen Bank International AG lifted its stake in Target by 96.0% in the first quarter. Raiffeisen Bank International AG now owns 6,352 shares of the retailer’s stock valued at $658,000 after buying an additional 3,112 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Target by 2.5% in the first quarter. Commonwealth Equity Services LLC now owns 318,866 shares of the retailer’s stock valued at $33,277,000 after buying an additional 7,882 shares in the last quarter. ING Groep NV boosted its holdings in shares of Target by 189.0% in the first quarter. ING Groep NV now owns 118,009 shares of the retailer’s stock valued at $12,315,000 after buying an additional 77,171 shares during the period. Finally, Plan Group Financial LLC increased its position in shares of Target by 23.2% during the first quarter. Plan Group Financial LLC now owns 2,807 shares of the retailer’s stock worth $293,000 after acquiring an additional 528 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TGT has been the topic of several research reports. Evercore ISI reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Target in a research report on Thursday, November 20th. JPMorgan Chase & Co. dropped their price target on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Sanford C. Bernstein cut their price target on Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. Truist Financial increased their price objective on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Finally, Mizuho dropped their target price on Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $102.79.

Target Trading Down 1.0%

Shares of Target stock opened at $90.47 on Wednesday. The stock has a market cap of $41.11 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 12-month low of $83.44 and a 12-month high of $145.08. The business’s 50 day moving average is $90.23 and its 200-day moving average is $95.48.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a dividend of $1.14 per share. The ex-dividend date was Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 55.34%.

Target Company 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.