Summitry LLC Raises Holdings in Target Corporation $TGT

Summitry LLC increased its stake in shares of Target Corporation (NYSE:TGT) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,106 shares of the retailer’s stock after acquiring an additional 5,408 shares during the quarter. Summitry LLC’s holdings in Target were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFA of San Diego LLC bought a new position in shares of Target in the second quarter worth approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in Target during the 3rd quarter valued at $27,000. Tripletail Wealth Management LLC purchased a new stake in Target during the 3rd quarter valued at $31,000. Key Financial Inc grew its holdings in Target by 77.4% in the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after acquiring an additional 151 shares during the last quarter. Finally, VSM Wealth Advisory LLC increased its position in shares of Target by 1,113.8% in the second quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after acquiring an additional 323 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of Target in a research note on Thursday, December 18th. Truist Financial upped their price target on Target from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 20th. Argus dropped their price objective on Target from $135.00 to $125.00 and set a “buy” rating for the company in a report on Monday, December 1st. Mizuho reduced their target price on Target from $94.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Finally, Wolfe Research raised Target from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Ten equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $103.90.

Target Stock Up 2.6%

Shares of NYSE:TGT opened at $115.61 on Monday. The firm has a market capitalization of $52.35 billion, a P/E ratio of 14.03, a P/E/G ratio of 11.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The stock has a 50 day moving average price of $104.00 and a 200-day moving average price of $96.88. Target Corporation has a 52-week low of $83.44 and a 52-week high of $131.70.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 22.74% and a net margin of 3.58%.The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is presently 55.34%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.