Cornerstone Advisors LLC Purchases 10,000 Shares of Target Corporation $TGT

Cornerstone Advisors LLC lifted its position in shares of Target Corporation (NYSE:TGT) by 63.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 25,800 shares of the retailer’s stock after acquiring an additional 10,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Target were worth $2,545,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kozak & Associates Inc. lifted its stake in 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 acquiring an additional 253 shares during the period. Raleigh Capital Management Inc. increased its position in Target by 63.4% during the 2nd 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. Investment Research & Advisory Group Inc. bought a new stake in shares of Target in the 2nd quarter valued at about $29,000. WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter worth approximately $32,000. Finally, Global Assets Advisory LLC bought a new position in shares of Target during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $89.96 on Monday. The company has a 50 day moving average price of $90.54 and a 200 day moving average price of $96.20. The firm has a market capitalization of $40.88 billion, a P/E ratio of 10.49, a PEG ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42.

Target (NYSE:TGT) last issued its quarterly earnings results 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 business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts expect 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. Investors of record on Wednesday, November 12th will be paid a $1.14 dividend. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. Target’s dividend payout ratio (DPR) is 53.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TGT. Bank of America reissued an “underperform” rating and issued a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Target in a research report on Friday. Guggenheim restated a “buy” rating and set a $115.00 price objective on shares of Target in a research note on Monday, October 27th. JPMorgan Chase & Co. cut their target price on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Finally, Royal Bank Of Canada boosted their target price on shares of Target from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $108.71.

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.