Summit Investment Advisors Inc. Raises Position in Target Corporation $TGT

Summit Investment Advisors Inc. increased its stake in Target Corporation (NYSE:TGT) by 6.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,501 shares of the retailer’s stock after buying an additional 2,136 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Target were worth $3,914,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Raleigh Capital Management Inc. raised its stake in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the period. Kozak & Associates Inc. grew its holdings in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in Target during the 2nd quarter valued at $29,000. Global Assets Advisory LLC purchased a new stake in Target during the 2nd quarter worth $31,000. Finally, WPG Advisers LLC acquired a new position in Target in the 1st quarter worth $32,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Jefferies Financial Group lowered their target price on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. BTIG Research began coverage on Target in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Wedbush restated an “outperform” rating on shares of Target in a report on Thursday, July 17th. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Truist Financial decreased their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Nine analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Target Stock Performance

Target stock opened at $91.22 on Friday. 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 12 month low of $85.36 and a 12 month high of $158.42. The company has a fifty day moving average price of $90.77 and a two-hundred day moving average price of $96.34. The company has a market cap of $41.45 billion, a PE ratio of 10.63, a P/E/G ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share 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 company had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s payout ratio is presently 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.