Granite Group Advisors LLC Raises Stake in Target Corporation $TGT

Granite Group Advisors LLC boosted its stake in Target Corporation (NYSE:TGT) by 145.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,288 shares of the retailer’s stock after purchasing an additional 13,811 shares during the quarter. Target makes up 1.4% of Granite Group Advisors LLC’s investment portfolio, making the stock its 18th largest position. Granite Group Advisors LLC’s holdings in Target were worth $2,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Punch & Associates Investment Management Inc. boosted its holdings in Target by 48.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after purchasing an additional 27,329 shares during the period. DSG Capital Advisors LLC raised its position in shares of Target by 16.1% in the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after buying an additional 21,726 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying an additional 2,869 shares during the period. Correct Capital Wealth Management grew its position in Target by 44.7% during the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after buying an additional 4,189 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Target in the 1st quarter worth about $4,623,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 1.8%

TGT stock opened at $88.94 on Wednesday. The company has a market capitalization of $40.41 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target Corporation has a one year low of $85.36 and a one year high of $161.50. The company’s 50 day moving average price is $93.96 and its two-hundred day moving average price is $96.65.

Target (NYSE:TGT) last announced its quarterly earnings data 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. The company had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. 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 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 5.1%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGT. BTIG Research initiated coverage on Target in a research report on Tuesday. They set a “neutral” rating for the company. Loop Capital set a $95.00 target price on shares of Target in a research report on Thursday, July 17th. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Guggenheim restated a “buy” rating and set a $115.00 price objective on shares of Target in a research report on Thursday, August 21st. Finally, Wolfe Research initiated coverage on shares of Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Hold” and a consensus price target of $109.00.

Target 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.