Corundum Group Inc. Increases Position in Target Corporation $TGT

Corundum Group Inc. boosted its holdings in shares of Target Corporation (NYSE:TGT) by 3.7% in the 2nd quarter, Holdings Channel reports. The fund owned 6,665 shares of the retailer’s stock after acquiring an additional 236 shares during the quarter. Corundum Group Inc.’s holdings in Target were worth $658,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Punch & Associates Investment Management Inc. grew its stake in Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after acquiring an additional 27,329 shares in the last quarter. DSG Capital Advisors LLC grew its stake in shares of Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock valued at $16,347,000 after buying an additional 21,726 shares during the period. Correct Capital Wealth Management grew its stake in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after buying an additional 4,189 shares during the period. PDT Partners LLC purchased a new stake in shares of Target in the 1st quarter valued at approximately $4,623,000. Finally, Mattern Capital Management LLC grew its stake in shares of Target by 7.6% in the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after buying an additional 5,573 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TGT. Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Guggenheim reissued a “buy” rating and issued a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Barclays reissued an “underweight” rating and issued a $91.00 price target on shares of Target in a research note on Monday, July 21st. Finally, Wolfe Research started coverage on shares of Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $109.71.

Target Stock Performance

NYSE:TGT opened at $89.03 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a market capitalization of $40.46 billion, a P/E ratio of 10.38, a PEG ratio of 2.58 and a beta of 1.18. The company has a 50 day moving average price of $95.89 and a 200 day moving average price of $97.53. Target Corporation has a fifty-two week low of $86.30 and a fifty-two week high of $161.50.

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

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be 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 is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. Target’s dividend payout ratio (DPR) is currently 53.15%.

About Target

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.