Rhumbline Advisers Buys 14,377 Shares of Target Corporation $TGT

Rhumbline Advisers grew its stake in Target Corporation (NYSE:TGT) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 871,822 shares of the retailer’s stock after purchasing an additional 14,377 shares during the period. Rhumbline Advisers owned about 0.19% of Target worth $78,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Norges Bank acquired a new position in shares of Target during the second quarter worth $578,009,000. State Street Corp lifted its stake in shares of Target by 4.3% in the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after acquiring an additional 1,529,026 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Target by 133.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock valued at $219,376,000 after acquiring an additional 1,273,129 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Target by 96.1% during the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock worth $213,616,000 after acquiring an additional 1,060,885 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Target stock opened at $112.63 on Friday. The stock’s 50 day moving average is $103.53 and its 200 day moving average is $96.91. Target Corporation has a one year low of $83.44 and a one year high of $131.70. The firm has a market cap of $51.00 billion, a P/E ratio of 13.67, a P/E/G ratio of 11.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is currently 55.34%.

Analyst Ratings Changes

TGT has been the subject of several research reports. Argus dropped their target price on Target from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Evercore ISI set a $103.00 price objective on Target in a research note on Tuesday. Robert W. Baird cut their target price on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Evercore boosted their target price on shares of Target from $95.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Ten equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $103.90.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.