Bank Pictet & Cie Europe AG Purchases 1,029 Shares of Target Corporation $TGT

Bank Pictet & Cie Europe AG increased its position in shares of Target Corporation (NYSE:TGT) by 48.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,147 shares of the retailer’s stock after acquiring an additional 1,029 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Target were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TGT. Brighton Jones LLC boosted its stake in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Target by 2.7% during the 4th quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock worth $514,000 after acquiring an additional 99 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Target by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,086 shares of the retailer’s stock worth $22,451,000 after acquiring an additional 10,356 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Target during the 4th quarter worth approximately $49,000. Finally, Wellington Management Group LLP boosted its stake in Target by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer’s stock worth $7,622,000 after acquiring an additional 6,253 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $88.04 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 12-month low of $86.30 and a 12-month high of $161.50. The company has a market capitalization of $40.01 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. The firm’s 50 day moving average is $97.53 and its 200-day moving average is $98.08.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the company earned $2.57 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. This is a boost from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

Several research analysts recently weighed in on TGT shares. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Bank of America reaffirmed an “underperform” rating and issued a $93.00 price target (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Barclays reaffirmed an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Wolfe Research assumed coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $110.48.

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.