Sumitomo Mitsui Trust Group Inc. Raises Stake in Target Corporation $TGT

Sumitomo Mitsui Trust Group Inc. increased its position in Target Corporation (NYSE:TGT) by 6.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,288,887 shares of the retailer’s stock after acquiring an additional 79,839 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Target were worth $127,149,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. JNBA Financial Advisors boosted its position in shares of Target by 3.0% in the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after acquiring an additional 96 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Guardian Wealth Advisors LLC grew its stake in shares of Target by 2.6% during the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer’s stock valued at $422,000 after buying an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Target by 9.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after buying an additional 106 shares during the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of Target by 21.4% during the 1st quarter. Truvestments Capital LLC now owns 606 shares of the retailer’s stock worth $63,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $94.34 on Friday. The firm has a market capitalization of $42.87 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18. Target Corporation has a one year low of $85.36 and a one year high of $158.42. The stock’s 50 day moving average price is $91.98 and its 200 day moving average price is $96.40. 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 (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. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, November 12th. Target’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore ISI reduced their target price on Target from $103.00 to $100.00 and set an “in-line” rating on the stock in a report on Tuesday, October 14th. Guggenheim restated a “buy” rating and issued a $115.00 price objective on shares of Target in a report on Thursday, August 21st. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Barclays reissued an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Finally, Bank of America reaffirmed an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $109.00.

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.