Target Corporation $TGT Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Target Corporation (NYSE:TGT) by 5.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 177,890 shares of the retailer’s stock after acquiring an additional 9,895 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Target were worth $17,575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Punch & Associates Investment Management Inc. lifted its holdings in Target by 48.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after acquiring an additional 27,329 shares during the period. Precedent Wealth Partners LLC increased its holdings in shares of Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares in the last quarter. PDT Partners LLC purchased a new position in shares of Target during the 1st quarter valued at approximately $4,623,000. Mattern Capital Management LLC lifted its stake in shares of Target by 7.6% in the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after purchasing an additional 5,573 shares during the period. Finally, Northern Financial Advisors Inc purchased a new stake in Target during the second quarter worth $370,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 2.3%

TGT stock opened at $91.22 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $90.77 and a two-hundred day moving average of $96.34. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42. The company has a market cap of $41.45 billion, a price-to-earnings ratio of 10.63, a PEG 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 the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period in the previous year, the firm posted $2.57 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal 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 issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is currently 53.15%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGT shares. UBS Group cut their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. DA Davidson dropped their target price on Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Jefferies Financial Group reduced their price target on Target from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Wall Street Zen raised Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, BTIG Research began coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.