Aberdeen Group plc Buys 32,401 Shares of Target Corporation $TGT

Aberdeen Group plc increased its stake in Target Corporation (NYSE:TGT) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 670,565 shares of the retailer’s stock after acquiring an additional 32,401 shares during the period. Aberdeen Group plc’s holdings in Target were worth $66,279,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kozak & Associates Inc. increased its position in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. increased its position in shares of Target by 63.4% in the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the period. Investment Research & Advisory Group Inc. bought a new position in shares of Target in the second quarter worth $29,000. WPG Advisers LLC bought a new position in Target in the first quarter valued at about $32,000. Finally, Global Assets Advisory LLC bought a new position in Target in the second quarter valued at about $31,000. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TGT. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Jefferies Financial Group decreased their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Barclays reiterated an “underweight” rating and issued a $91.00 target price on shares of Target in a research report on Monday, July 21st. Piper Sandler reiterated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Finally, Citigroup lifted their target price on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.65.

Target Stock Performance

Shares of TGT stock opened at $85.79 on Friday. The business’s 50-day moving average price is $94.48 and its 200-day moving average price is $96.89. Target Corporation has a 12 month low of $85.36 and a 12 month high of $161.50. The firm has a market capitalization of $38.98 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.48 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 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, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the firm 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. Equities research analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 represents a $4.56 dividend on an annualized basis and a yield of 5.3%. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 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.