Advisors Asset Management Inc. Acquires 6,762 Shares of Target Corporation $TGT

Advisors Asset Management Inc. increased its holdings in Target Corporation (NYSE:TGT) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,460 shares of the retailer’s stock after acquiring an additional 6,762 shares during the quarter. Advisors Asset Management Inc.’s holdings in Target were worth $4,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Vanguard Group Inc. lifted its holdings in Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after buying an additional 6,607,982 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Target by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock worth $1,602,825,000 after buying an additional 277,176 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Target during the 2nd quarter valued at about $595,839,000. Goldman Sachs Group Inc. lifted its holdings in shares of Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after buying an additional 370,967 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

TGT opened at $89.83 on Friday. Target Corporation has a 12-month low of $83.44 and a 12-month high of $145.08. The company’s 50 day moving average is $90.01 and its 200 day moving average is $95.66. The company has a market cap of $40.82 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 2.74 and a beta of 1.19. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) 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 analyst estimates of $25.44 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is 55.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, November 20th. Robert W. Baird decreased their target price on shares of Target from $100.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Roth Capital set a $88.00 target price on shares of Target in a research note on Thursday, November 20th. BTIG Research began coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.00.

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.