AlphaQuest LLC Makes New Investment in Target Corporation $TGT

AlphaQuest LLC purchased a new stake in Target Corporation (NYSE:TGT) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 9,009 shares of the retailer’s stock, valued at approximately $808,000.

Several other hedge funds have also made changes to their positions in the business. Northern Financial Advisors Inc acquired a new position in Target during the second quarter valued at approximately $370,000. 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 valued at $3,482,000 after acquiring an additional 11,378 shares in the last quarter. Yousif Capital Management LLC boosted its position in Target by 3.5% during the 2nd quarter. Yousif Capital Management LLC now owns 122,358 shares of the retailer’s stock worth $12,071,000 after purchasing an additional 4,110 shares during the period. Capital Management Associates Inc increased its holdings in Target by 137.9% in the 2nd quarter. Capital Management Associates Inc now owns 5,196 shares of the retailer’s stock valued at $513,000 after purchasing an additional 3,012 shares in the last quarter. Finally, Twelve Points Wealth Management LLC purchased a new position in Target in the third quarter valued at about $1,236,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $109.72 on Tuesday. The company has a market capitalization of $49.68 billion, a P/E ratio of 13.31, a PEG ratio of 11.47 and a beta of 1.12. The company has a 50-day moving average of $99.80 and a 200-day moving average of $96.33. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. Target Corporation has a 1-year low of $83.44 and a 1-year high of $137.05.

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

Target Dividend Announcement

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

Analysts Set New Price Targets

TGT has been the subject of several analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price on shares of Target in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a report on Wednesday, January 21st. Piper Sandler reiterated a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Argus reduced their target price on shares of Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, December 1st. Finally, Zacks Research raised shares of Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Ten analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $103.03.

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.