Panagora Asset Management Inc. Has $41.49 Million Position in Target Corporation $TGT

Panagora Asset Management Inc. grew its holdings in Target Corporation (NYSE:TGT) by 39.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 397,514 shares of the retailer’s stock after purchasing an additional 112,881 shares during the quarter. Panagora Asset Management Inc. owned about 0.09% of Target worth $41,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at about $29,000. WPG Advisers LLC bought a new stake in shares of Target in the first quarter valued at about $32,000. Heck Capital Advisors LLC bought a new stake in shares of Target in the fourth quarter valued at about $40,000. Atwood & Palmer Inc. lifted its stake in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock valued at $41,000 after buying an additional 352 shares during the period. Finally, Abound Financial LLC bought a new stake in shares of Target in the first quarter valued at about $43,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 0.8%

Shares of TGT opened at $95.99 on Friday. The stock has a market cap of $43.62 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.77 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. The company has a 50-day moving average price of $102.17 and a two-hundred day moving average price of $102.43.

Target (NYSE:TGT) last posted its earnings results 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. Target had a net margin of 3.72% and a return on equity of 23.43%. The company had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. Target’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.7%. Target’s payout ratio is 53.15%.

Analysts Set New Price Targets

TGT has been the subject of several research reports. Wells Fargo & Company reduced their target price on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. The Goldman Sachs Group reduced their target price on shares of Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Finally, Robert W. Baird set a $100.00 target price on shares of Target in a research note on Thursday, May 22nd. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.74.

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.