Target Corporation (TGT) to Issue Quarterly Dividend of $1.14 on March 1st

Target Corporation (NYSE:TGT) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Wednesday, February 11th will be given a dividend of 1.14 per share by the retailer on Sunday, March 1st. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, February 11th.

Target has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 54 years. Target has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Target to earn $9.32 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 48.9%.

Target Stock Up 1.4%

Shares of NYSE TGT opened at $108.04 on Friday. The stock has a market cap of $48.92 billion, a PE ratio of 13.11, a P/E/G ratio of 11.58 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $83.44 and a 12-month high of $145.08. The company has a 50-day moving average of $97.63 and a 200 day moving average of $96.37.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, sell-side analysts predict that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LBP AM SA purchased a new stake in shares of Target in the second quarter valued at $5,427,000. Precedent Wealth Partners LLC grew its holdings in Target by 27.7% in the 2nd 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. Mattern Capital Management LLC grew its holdings in 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 buying an additional 5,573 shares during the period. Northern Financial Advisors Inc acquired a new position in shares of Target during the 2nd quarter valued at about $370,000. Finally, CWM LLC lifted its holdings in shares of Target by 41.5% during the 3rd quarter. CWM LLC now owns 38,819 shares of the retailer’s stock worth $3,482,000 after acquiring an additional 11,378 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.