Vanguard Personalized Indexing Management LLC Grows Stake in Target Corporation $TGT

Vanguard Personalized Indexing Management LLC raised its stake in Target Corporation (NYSE:TGT) by 19.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 56,951 shares of the retailer’s stock after acquiring an additional 9,309 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Target were worth $5,619,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Target during the second quarter worth about $595,839,000. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Target by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer’s stock worth $542,020,000 after acquiring an additional 370,967 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Target by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer’s stock worth $420,413,000 after acquiring an additional 229,670 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TGT shares. Barclays reaffirmed an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. Wolfe Research began coverage on Target in a report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective for the company. Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of Target in a report on Thursday, August 21st. DA Davidson cut their price target on Target from $115.00 to $108.00 and set a “buy” rating on the stock in a report on Monday. Finally, Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.10.

Target Stock Performance

TGT opened at $87.29 on Tuesday. The company has a market capitalization of $39.66 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. 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 Corporation has a 1-year low of $85.36 and a 1-year high of $161.50. The business has a 50 day moving average price of $94.23 and a two-hundred day moving average price of $96.71.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio is currently 53.15%.

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.