Target (NYSE:TGT) Releases Earnings Results, Beats Estimates By $0.07 EPS

Target (NYSE:TGT) announced its quarterly earnings data on Wednesday. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07, Zacks reports. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $25.28 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period last year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Target updated its FY 2025 guidance to 7.000-8.000 EPS.

Target Trading Down 2.9%

Shares of Target stock opened at $85.94 on Thursday. The firm has a 50-day simple moving average of $90.34 and a two-hundred day simple moving average of $96.02. 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 has a fifty-two week low of $85.30 and a fifty-two week high of $145.08. The company has a market cap of $39.05 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

Target Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. Target’s dividend payout ratio is presently 53.15%.

Hedge Funds Weigh In On Target

A number of large investors have recently bought and sold shares of the business. WFA of San Diego LLC purchased a new position in Target during the second quarter worth approximately $25,000. Darwin Wealth Management LLC purchased a new stake in Target in the 2nd quarter worth $37,000. SWAN Capital LLC raised its position in Target by 287.4% during the third quarter. SWAN Capital LLC now owns 674 shares of the retailer’s stock worth $60,000 after acquiring an additional 500 shares during the period. Binnacle Investments Inc grew its position in shares of Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock valued at $100,000 after purchasing an additional 104 shares during the period. Finally, State of Wyoming raised its position in shares of Target by 16,257.1% during the 2nd quarter. State of Wyoming now owns 1,145 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of several research reports. BTIG Research initiated coverage on shares of Target in a report on Tuesday, October 14th. They issued a “neutral” rating on the stock. UBS Group cut their price objective on shares of Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Roth Capital reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Target in a report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Target currently has an average rating of “Hold” and a consensus price target of $106.45.

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.