71,288 Shares in Target Corporation $TGT Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc acquired a new position in shares of Target Corporation (NYSE:TGT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 71,288 shares of the retailer’s stock, valued at approximately $7,033,000.

Other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. grew its position in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after acquiring an additional 253 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in Target during the second quarter worth about $29,000. Global Assets Advisory LLC purchased a new stake in Target during the second quarter worth $31,000. Finally, WPG Advisers LLC acquired a new position in Target during the first quarter worth about $32,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 1.4%

TGT stock opened at $90.66 on Friday. Target Corporation has a 1 year low of $85.36 and a 1 year high of $158.42. The firm has a market cap of $41.20 billion, a PE ratio of 10.57, a PEG ratio of 2.74 and a beta of 1.19. 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 company has a fifty day simple moving average of $90.60 and a 200 day simple moving average of $96.25.

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

Target Increases Dividend

The company 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 $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is presently 53.15%.

Analysts Set New Price Targets

TGT has been the topic of several recent analyst reports. Citigroup increased their target price on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Cowen restated a “hold” rating on shares of Target in a report on Monday. Truist Financial cut their target price on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. JPMorgan Chase & Co. decreased their price target on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Finally, BTIG Research began coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.71.

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.