Advisors Asset Management Inc. Purchases 6,217 Shares of Target Corporation $TGT

Advisors Asset Management Inc. lifted its holdings in Target Corporation (NYSE:TGT) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,677 shares of the retailer’s stock after buying an additional 6,217 shares during the period. Advisors Asset Management Inc.’s holdings in Target were worth $4,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TGT. Vision Financial Markets LLC bought a new position in Target in the 3rd quarter valued at $1,121,000. ABC Arbitrage SA purchased a new position in shares of Target in the 3rd quarter worth about $611,000. Stratos Wealth Partners LTD. boosted its holdings in shares of Target by 3.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,777 shares of the retailer’s stock worth $1,415,000 after buying an additional 551 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in Target by 62.1% during the third quarter. Baader Bank Aktiengesellschaft now owns 3,686 shares of the retailer’s stock valued at $307,000 after buying an additional 1,412 shares during the period. Finally, Providence Capital Advisors LLC increased its holdings in Target by 2.9% during the third quarter. Providence Capital Advisors LLC now owns 33,672 shares of the retailer’s stock worth $3,020,000 after buying an additional 935 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Target from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Citigroup lifted their price target on shares of Target from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $125.00 price target on shares of Target in a research report on Thursday, January 15th. Ten investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.90.

Target Stock Up 2.6%

Shares of NYSE:TGT opened at $115.61 on Friday. The firm has a fifty day moving average price of $104.00 and a two-hundred day moving average price of $96.98. The company has a market cap of $52.35 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 11.52 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 Corporation has a one year low of $83.44 and a one year high of $131.70.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is 55.34%.

Target Profile

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.