Advisors Capital Management LLC Raises Position in Target Corporation $TGT

Advisors Capital Management LLC boosted its position in Target Corporation (NYSE:TGT) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,328 shares of the retailer’s stock after purchasing an additional 56,603 shares during the period. Advisors Capital Management LLC owned about 0.06% of Target worth $28,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. raised its position in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. grew its stake in Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the period. Investment Research & Advisory Group Inc. acquired a new stake in shares of Target in the second quarter worth $29,000. Global Assets Advisory LLC purchased a new stake in shares of Target during the 2nd quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new stake in Target during the 1st quarter worth $32,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $90.66 on Friday. The company has a fifty day moving average price of $90.60 and a 200 day moving average price of $96.25. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The stock has a market cap of $41.20 billion, a P/E ratio of 10.57, a PEG ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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 business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the business earned $2.57 EPS. The firm’s revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is 53.15%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price target on shares of Target in a research report on Wednesday, August 20th. Royal Bank Of Canada lifted their price target on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Bank of America reissued an “underperform” rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research note on Friday, August 15th. Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Finally, Citigroup boosted their target price on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $108.71.

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.