Alhambra Investment Management LLC Raises Stake in Target Corporation $TGT

Alhambra Investment Management LLC boosted its holdings in shares of Target Corporation (NYSE:TGT) by 39.8% in the second quarter, HoldingsChannel reports. The fund owned 4,184 shares of the retailer’s stock after acquiring an additional 1,192 shares during the period. Alhambra Investment Management LLC’s holdings in Target were worth $413,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ballentine Partners LLC lifted its position in Target by 35.5% during the 2nd quarter. Ballentine Partners LLC now owns 11,667 shares of the retailer’s stock valued at $1,151,000 after acquiring an additional 3,056 shares during the period. Kagan Cocozza Asset Management lifted its position in Target by 24.1% during the 2nd quarter. Kagan Cocozza Asset Management now owns 6,957 shares of the retailer’s stock valued at $686,000 after acquiring an additional 1,349 shares during the period. Accurate Wealth Management LLC lifted its position in Target by 6.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 2,965 shares of the retailer’s stock valued at $311,000 after acquiring an additional 182 shares during the period. Waycross Partners LLC lifted its position in Target by 3.0% during the 2nd quarter. Waycross Partners LLC now owns 172,557 shares of the retailer’s stock valued at $17,023,000 after acquiring an additional 4,965 shares during the period. Finally, Revisor Wealth Management LLC lifted its position in Target by 7.1% during the 2nd quarter. Revisor Wealth Management LLC now owns 3,589 shares of the retailer’s stock valued at $376,000 after acquiring an additional 239 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TGT. Guggenheim reissued a “buy” rating and set a $115.00 price target on shares of Target in a research report on Thursday, August 21st. Loop Capital set a $95.00 price objective on shares of Target in a research note on Thursday, July 17th. Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Wedbush restated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Finally, Evercore ISI reduced their price objective on shares of Target from $106.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $110.48.

Target Stock Performance

Shares of TGT stock opened at $87.02 on Wednesday. The company has a 50 day moving average price of $98.43 and a 200-day moving average price of $98.51. Target Corporation has a 52 week low of $86.30 and a 52 week high of $161.50. The firm has a market capitalization of $39.54 billion, a PE ratio of 10.14, a P/E/G ratio of 2.50 and a beta of 1.16. 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 (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping 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 firm had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current 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 paid a $1.14 dividend. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

About Target

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.