Inlet Private Wealth LLC Purchases 10,000 Shares of Target Corporation $TGT

Inlet Private Wealth LLC increased its position in shares of Target Corporation (NYSE:TGT) by 60.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,575 shares of the retailer’s stock after buying an additional 10,000 shares during the period. Inlet Private Wealth LLC’s holdings in Target were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. Norges Bank bought a new position in Target during the second quarter worth about $578,009,000. State Street Corp increased its position in Target by 4.3% during the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after buying an additional 1,529,026 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Target by 133.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock valued at $219,376,000 after buying an additional 1,273,129 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Target by 415.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,335,693 shares of the retailer’s stock valued at $131,766,000 after buying an additional 1,076,425 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of Target stock opened at $108.04 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $48.92 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 11.58 and a beta of 1.12. Target Corporation has a twelve month low of $83.44 and a twelve month high of $145.08. The company has a 50-day simple moving average of $97.63 and a two-hundred day simple moving average of $96.37.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 annualized dividend and a yield of 4.2%. Target’s payout ratio is currently 55.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TGT shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price target on shares of Target in a report on Thursday, December 18th. Wolfe Research reissued an “underperform” rating and issued a $81.00 price objective on shares of Target in a research report on Tuesday, December 30th. Sanford C. Bernstein reduced their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday, November 20th. Citigroup decreased their price target on shares of Target from $100.00 to $89.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $103.03.

Target Profile

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.