Concurrent Investment Advisors LLC Increases Stake in Target Corporation $TGT

Concurrent Investment Advisors LLC lifted its stake in Target Corporation (NYSE:TGT) by 21.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,657 shares of the retailer’s stock after purchasing an additional 8,557 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Target were worth $4,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Matrix Asset Advisors Inc. NY raised its position in shares of Target by 167.4% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 158,229 shares of the retailer’s stock valued at $15,609,000 after purchasing an additional 99,054 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Target by 3.4% in the 2nd quarter. Apollon Wealth Management LLC now owns 10,859 shares of the retailer’s stock valued at $1,071,000 after purchasing an additional 362 shares during the last quarter. JNBA Financial Advisors raised its position in shares of Target by 3.0% in the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after purchasing an additional 96 shares during the last quarter. Aberdeen Group plc raised its position in shares of Target by 5.1% in the 2nd quarter. Aberdeen Group plc now owns 670,565 shares of the retailer’s stock valued at $66,279,000 after purchasing an additional 32,401 shares during the last quarter. Finally, JB Capital LLC increased its holdings in Target by 41.8% in the 2nd quarter. JB Capital LLC now owns 33,207 shares of the retailer’s stock worth $3,276,000 after buying an additional 9,795 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TGT shares. UBS Group cut their price target on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Barclays reiterated an “underweight” rating and issued a $91.00 price target on shares of Target in a report on Monday, July 21st. Jefferies Financial Group cut their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.65.

Target Price Performance

Shares of NYSE TGT opened at $85.79 on Monday. The stock has a market capitalization of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. Target Corporation has a 12 month low of $85.36 and a 12 month high of $161.50. The firm’s 50 day simple moving average is $94.48 and its 200-day simple moving average is $96.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion for 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 business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is 53.15%.

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.