Cidel Asset Management Inc. Has $707,000 Stock Holdings in Target Corporation $TGT

Cidel Asset Management Inc. lifted its holdings in Target Corporation (NYSE:TGT) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,165 shares of the retailer’s stock after purchasing an additional 790 shares during the quarter. Cidel Asset Management Inc.’s holdings in Target were worth $707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TGT. Charles Schwab Investment Management Inc. lifted its stake in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Target in the 2nd quarter valued at approximately $595,839,000. Goldman Sachs Group Inc. lifted its stake in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after acquiring an additional 370,967 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Target by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock valued at $420,413,000 after acquiring an additional 229,670 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Up 0.8%

TGT opened at $90.79 on Monday. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The stock’s fifty day simple moving average is $93.07 and its 200 day simple moving average is $96.37. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The stock has a market cap of $41.25 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

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

Target Increases Dividend

The firm 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. 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 5.0%. Target’s dividend payout ratio (DPR) is currently 53.15%.

Analyst Ratings Changes

Several research firms have commented on TGT. BTIG Research began coverage on Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Bank of America restated an “underperform” rating and issued a $93.00 target price (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Jefferies Financial Group dropped their price objective on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Evercore ISI dropped their price objective on Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 14th. Finally, Truist Financial dropped their price objective on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $109.00.

Target Company 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.