Carlson Capital L.P. Invests $682,000 in Target Corporation $TGT

Carlson Capital L.P. bought a new stake in Target Corporation (NYSE:TGT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,600 shares of the retailer’s stock, valued at approximately $682,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the period. Woodline Partners LP increased its stake in Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after acquiring an additional 11,047 shares during the period. Maryland State Retirement & Pension System raised its position in Target by 2.1% in the second quarter. Maryland State Retirement & Pension System now owns 22,092 shares of the retailer’s stock worth $2,179,000 after purchasing an additional 459 shares in the last quarter. Tectonic Advisors LLC lifted its stake in Target by 43.3% during the second quarter. Tectonic Advisors LLC now owns 10,212 shares of the retailer’s stock worth $1,007,000 after purchasing an additional 3,087 shares during the period. Finally, Leo Wealth LLC acquired a new stake in Target during the second quarter valued at approximately $327,000. 79.73% of the stock is owned by institutional investors.

Target Trading Up 4.2%

Shares of TGT opened at $115.48 on Friday. The stock’s fifty day simple moving average is $101.70 and its 200-day simple moving average is $96.71. The firm has a market capitalization of $52.29 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 11.35 and a beta of 1.14. Target Corporation has a 12-month low of $83.44 and a 12-month high of $135.00. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99.

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

Target Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. Target’s dividend payout ratio (DPR) is presently 55.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TGT shares. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective (down from $94.00) on shares of Target in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 target price on Target in a research report on Thursday, January 8th. Royal Bank Of Canada lowered their price target on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research note on Wednesday, January 21st. Finally, Truist Financial lifted their price objective on Target from $83.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, November 20th. Ten research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $103.21.

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.