Sharp Financial Services LLC Makes New $266,000 Investment in Target Corporation $TGT

Sharp Financial Services LLC acquired a new position in Target Corporation (NYSE:TGT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,700 shares of the retailer’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TGT. Brighton Jones LLC boosted its position in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. SG Americas Securities LLC boosted its position in Target by 105.7% in the first quarter. SG Americas Securities LLC now owns 21,680 shares of the retailer’s stock worth $2,263,000 after purchasing an additional 11,142 shares during the last quarter. Simon Quick Advisors LLC boosted its position in Target by 10.3% in the first quarter. Simon Quick Advisors LLC now owns 2,128 shares of the retailer’s stock worth $222,000 after purchasing an additional 198 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Target in the first quarter worth $2,150,000. Finally, Opal Wealth Advisors LLC purchased a new position in Target in the first quarter worth $103,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price objective on shares of Target in a research report on Wednesday, August 20th. Wolfe Research initiated coverage on Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target on the stock. Barclays reaffirmed an “underweight” rating and set a $91.00 price target on shares of Target in a research report on Monday, July 21st. Jefferies Financial Group dropped their price target on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Finally, UBS Group dropped their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and an average target price of $109.65.

Target Stock Performance

Shares of TGT opened at $85.79 on Monday. The stock’s 50-day simple moving average is $94.48 and its 200 day simple moving average is $96.82. The stock has a market capitalization of $38.98 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a 52-week low of $85.36 and a 52-week high of $161.50.

Target (NYSE:TGT) last announced its earnings results 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 business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal 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 paid a $1.14 dividend. The ex-dividend date 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 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.