96,924 Shares in Target Corporation $TGT Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama acquired a new position in shares of Target Corporation (NYSE:TGT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 96,924 shares of the retailer’s stock, valued at approximately $8,694,000.

A number of other institutional investors also recently modified their holdings of TGT. LBP AM SA acquired a new position in Target in the second quarter valued at approximately $5,427,000. Precedent Wealth Partners LLC grew its holdings in Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after acquiring an additional 2,869 shares during the period. Mattern Capital Management LLC raised its position in shares of Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after acquiring an additional 5,573 shares during the last quarter. Northern Financial Advisors Inc acquired a new position in shares of Target in the 2nd quarter valued at $370,000. Finally, CWM LLC lifted its stake in shares of Target by 41.5% in the 3rd quarter. CWM LLC now owns 38,819 shares of the retailer’s stock valued at $3,482,000 after purchasing an additional 11,378 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of TGT opened at $102.74 on Friday. The firm has a market cap of $46.52 billion, a P/E ratio of 12.47, a PEG ratio of 11.07 and a beta of 1.12. Target Corporation has a twelve month low of $83.44 and a twelve month high of $142.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The firm’s 50 day moving average price is $98.94 and its two-hundred day moving average price is $96.36.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. During the same period in the previous year, the firm posted $1.85 EPS. The firm’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. On average, analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 annualized dividend and a yield of 4.4%. Target’s payout ratio is presently 55.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. DA Davidson set a $120.00 target price on Target in a research report on Monday, January 12th. Bank of America cut their price target on shares of Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, November 20th. Citigroup decreased their price objective on shares of Target from $100.00 to $89.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Finally, Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Target in a report on Monday, October 27th. Ten investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $103.03.

Target Company 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.