California Public Employees Retirement System Raises Holdings in Target Corporation $TGT

California Public Employees Retirement System raised its holdings in Target Corporation (NYSE:TGT) by 96.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,165,396 shares of the retailer’s stock after purchasing an additional 1,060,885 shares during the quarter. California Public Employees Retirement System owned 0.48% of Target worth $213,616,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in 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 buying an additional 3,059 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Target by 2.9% during the first quarter. Chicago Partners Investment Group LLC now owns 7,644 shares of the retailer’s stock valued at $730,000 after acquiring an additional 219 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Target during the first quarter valued at about $261,000. Townsquare Capital LLC raised its stake in shares of Target by 32.2% in the 1st quarter. Townsquare Capital LLC now owns 11,057 shares of the retailer’s stock valued at $1,154,000 after acquiring an additional 2,693 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Target in the 1st quarter worth approximately $15,044,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 0.7%

TGT opened at $92.19 on Monday. Target Corporation has a 12 month low of $83.44 and a 12 month high of $145.08. The stock has a market capitalization of $41.74 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 10.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The business has a fifty day moving average price of $90.45 and a 200 day moving average price of $95.37.

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

Target Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date was Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 4.9%. Target’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TGT shares. Wolfe Research assumed coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective for the company. Citigroup lowered their price target on Target from $100.00 to $89.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. TD Cowen cut their price objective on Target from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 20th. Truist Financial increased their target price on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 20th. Finally, Bank of America dropped their target price on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.79.

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.