Carlson Capital L.P. Acquires New Shares in Target Corporation $TGT

Carlson Capital L.P. bought a new position in Target Corporation (NYSE:TGT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,600 shares of the retailer’s stock, valued at approximately $682,000.

Several other institutional investors have also made changes to their positions in the company. WFA of San Diego LLC bought a new stake in Target in the second quarter worth approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in Target in the third quarter worth $27,000. Tripletail Wealth Management LLC acquired a new position in Target during the third quarter worth $31,000. VSM Wealth Advisory LLC raised its holdings in Target by 1,113.8% during the second quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after buying an additional 323 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Target by 220.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 368 shares of the retailer’s stock worth $36,000 after buying an additional 253 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 4.2%

Shares of Target stock opened at $115.48 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $135.00. The company’s fifty day simple moving average is $101.70 and its 200-day simple moving average is $96.71. The company has a market cap of $52.29 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 11.35 and a beta of 1.14. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99.

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

Target Dividend Announcement

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 given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. Target’s dividend payout ratio (DPR) is 55.34%.

Analyst Ratings Changes

A number of research analysts have recently commented on TGT shares. Jefferies Financial Group reissued a “buy” rating and set a $115.00 price objective on shares of Target in a report on Thursday, December 18th. BMO Capital Markets decreased their target price on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a research report on Thursday, January 8th. Roth Mkm set a $88.00 price objective on shares of Target in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada lowered their target price on shares of Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $103.21.

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.