Target Corporation $TGT Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Target Corporation (NYSE:TGT) by 96.1% during the second quarter, HoldingsChannel reports. The fund owned 2,165,396 shares of the retailer’s stock after purchasing an additional 1,060,885 shares during the period. California Public Employees Retirement System’s holdings in Target were worth $213,616,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Target by 2.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 7,644 shares of the retailer’s stock worth $730,000 after buying an additional 219 shares during the last quarter. AlphaCore Capital LLC acquired a new position in shares of Target in the 1st quarter valued at $261,000. Townsquare Capital LLC grew its position in shares of Target by 32.2% in the 1st quarter. Townsquare Capital LLC now owns 11,057 shares of the retailer’s stock valued at $1,154,000 after buying an additional 2,693 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Target during the 1st quarter worth $15,044,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Target from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Bank of America reduced their target price on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday, November 20th. Evercore ISI reissued a “positive” rating and issued a $100.00 target price on shares of Target in a research report on Thursday, November 20th. BMO Capital Markets cut their price target on Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, November 20th. Finally, Citigroup reduced their price objective on Target from $100.00 to $89.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Eleven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.79.

Target Stock Up 0.7%

TGT opened at $92.19 on Monday. The business has a 50 day moving average price of $90.45 and a two-hundred day moving average price of $95.37. 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 company has a market cap of $41.74 billion, a PE ratio of 11.19, a P/E/G ratio of 10.03 and a beta of 1.13. Target Corporation has a 52 week low of $83.44 and a 52 week high of $145.08.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating 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 company had revenue of $25.27 billion for the quarter, compared to the consensus estimate of $25.44 billion. During the same period last year, the business posted $1.85 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $1.14 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $4.56 annualized dividend and a yield of 4.9%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is presently 55.34%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.