Quadrant Capital Group LLC Increases Stake in Target Corporation $TGT

Quadrant Capital Group LLC boosted its position in Target Corporation (NYSE:TGT) by 0.5% during the 2nd quarter, Holdings Channel reports. The fund owned 128,830 shares of the retailer’s stock after acquiring an additional 582 shares during the quarter. Target makes up 0.5% of Quadrant Capital Group LLC’s portfolio, making the stock its 28th biggest holding. Quadrant Capital Group LLC’s holdings in Target were worth $12,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after buying an additional 6,607,982 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Target by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock worth $1,602,825,000 after acquiring an additional 277,176 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target during the 2nd quarter worth about $595,839,000. Goldman Sachs Group Inc. lifted its stake in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Target by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock valued at $542,020,000 after purchasing an additional 370,967 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGT. Sanford C. Bernstein dropped their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, November 20th. Royal Bank Of Canada reduced their target price on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Piper Sandler restated a “neutral” rating and set a $85.00 price target (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Finally, BTIG Research initiated coverage on shares of Target in a research report on Tuesday, October 14th. They set a “neutral” rating on the stock. Ten research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $102.00.

Target Stock Up 3.8%

Target stock opened at $89.83 on Thursday. The stock’s 50 day moving average price is $90.01 and its 200 day moving average price is $95.70. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The company has a market cap of $40.82 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is 55.34%.

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.