Summitry LLC Boosts Stock Holdings in Target Corporation $TGT

Summitry LLC grew its stake in shares of Target Corporation (NYSE:TGT) by 20.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,698 shares of the retailer’s stock after buying an additional 9,353 shares during the period. Summitry LLC’s holdings in Target were worth $5,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Target by 101.3% in the 4th 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 period. Sigma Planning Corp increased its position in Target by 4.7% during the 1st quarter. Sigma Planning Corp now owns 6,337 shares of the retailer’s stock worth $661,000 after purchasing an additional 285 shares in the last quarter. Formidable Asset Management LLC raised its holdings in Target by 1.2% in the first quarter. Formidable Asset Management LLC now owns 9,696 shares of the retailer’s stock valued at $1,012,000 after buying an additional 111 shares during the period. Buckhead Capital Management LLC lifted its position in Target by 15.1% during the first quarter. Buckhead Capital Management LLC now owns 3,041 shares of the retailer’s stock valued at $317,000 after buying an additional 400 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in Target during the first quarter worth approximately $601,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Wolfe Research began coverage on Target in a research note on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Evercore ISI dropped 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. Finally, Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $108.71.

Target Stock Down 0.7%

TGT stock opened at $89.96 on Friday. 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 firm has a 50 day simple moving average of $90.54 and a 200-day simple moving average of $96.20. The company has a market capitalization of $40.88 billion, a P/E ratio of 10.49, a PEG ratio of 2.74 and a beta of 1.19. Target Corporation has a twelve month low of $85.36 and a twelve month high of $158.42.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. The firm 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 firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. Target’s dividend payout ratio is 53.15%.

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.